Question

The price sensitivity of the market is an
important factor of which element of micro environment?
a) Suppliers
b) Market
c) Intermediaries d) Customer​

Answer 1

Answer:

I think it is option d ,, customer

Answer 2

The price sensitivity of the market is an important factor of the consumer element in microeconomics.

• The different levels of price sensitivity affect the consumers in different ways.
• When the product has numerous substitutes present in the market, it's the price is highly sensitive to the consumers.
• And when the product has fewer substitutes the price sensitivity to the consumers is less.