{"id":54111,"date":"2024-04-16T00:04:37","date_gmt":"2024-04-16T00:04:37","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=54111"},"modified":"2024-04-16T00:04:37","modified_gmt":"2024-04-16T00:04:37","slug":"product-variation-refers-to","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/product-variation-refers-to\/","title":{"rendered":"Product variation refers to"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;an activity undertaken by a firm to increase demand&#8221; option2=&#8221;a problem with quality control that tends to decrease demand&#8221; option3=&#8221;an activity undertaken by a firm to make demand more price inelastic&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: A. an activity undertaken by a firm to increase demand.<\/p>\n<p>Product variation is the process of offering different versions of a product to appeal to a wider range of customers. This can be done by changing the features, price, or packaging of the product. Product variation can help to increase demand by making the product more appealing to a wider range of customers.<\/p>\n<p>Option B is incorrect because product variation is not a problem with quality control. Quality control is the process of ensuring that products meet certain standards of quality. Product variation is a deliberate attempt to make products different from each other.<\/p>\n<p>Option C is incorrect because product variation is not an activity undertaken by a firm to make demand more price inelastic. Price elasticity of demand is a measure of how responsive demand is to changes in price. Product variation does not affect price elasticity of demand.<\/p>\n<p>Option D is incorrect because product variation is an activity undertaken by a firm to increase demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;an activity undertaken by a firm to increase demand&#8221; option2=&#8221;a problem with quality control that tends to decrease demand&#8221; option3=&#8221;an activity undertaken by a firm to make demand more price inelastic&#8221; option4=&#8221;None of the above&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-54111","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Product variation refers to<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/product-variation-refers-to\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Product variation refers to\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;an activity undertaken by a firm to increase demand&#8221; 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