Question

Consumers that do not own dogs are not likely to be in the market for dog food because

a) they lack the authority to purchase the dog food.
b) they do not possess the buying power for purchasing dog food.
c) their ability to purchase the dog food is questionable.
d) they do not have the need or desire for dog food.
e) they are willing to use their buying power.

Answer 1

Non-dog owning consumers are not likely to purchase dog food because they do not have the need or desire for it, despite having the buying power or authority.

Step-by-step explanation:

Consumers that do not own dogs are not likely to be in the market for dog food because they do not have the need or desire for dog food. In economic terms, this refers to the absence of 'effective demand,' implying that even if consumers have the buying power or authority to make a purchase, without the need or desire, there is no genuine demand. Similarly, someone without a driver's license has no effective demand for a car; without the ability or legal requirement to use it, there's no reason to purchase. In the market, this lack of demand from non-dog owners creates an understanding of the relationship between consumers' needs and the products they choose to invest in.