Critical thinking analysis
1. Although people buy more of a product when the seller lowers the price, some items such
as luxury goods are not offered at a lower price. Why
1. Although people buy more of a product when the seller lowers the price, some items such
as luxury goods are not offered at a lower price. Why
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Explanation:
Luxury goods are not offered at a lower price because it usually have a high quality and made through a more complex process with high standard. I'm not saying that goods that are sold in lower price are not great but usually there are products that is offered in low prices because of its lacking. Perhaps, sellers lower the price of their products as their marketing strategy to gain more consumers or simply customers.
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