Chapter 5 introduces important topic of “Consumers and incentives” and the concept of elasticties.
1) Discuss what are popular incentives that motivate customers, that motivate you, to take action. Discuss some real life application of this powerful force.
2) Then, give some examples with reference to your elasticity for different products.
3) Considering current situation in the economy, the impact of Coronavirus pandemic and rising inflation, what do you think, has the perception of customers
changed about different goods? Has the elasticity of individuals changed or not with reference to different goods? Give some examples.