A factor which is likely to have the greatest influence on purchases by consumers with a limited amount of cash on hand is: B) The price of alternatives or substitutes.
A price can be defined as an amount of money that a customer (consumer) is willing to pay for the purchase of goods and services being offered at a specific period of time.
Generally, the price of goods and services are primarily determined or being set by a seller or service provider.
A substitute product refer to a product that a consumer consider an alternative to another product and as such would offer similar benefits or satisfaction to the consumer at a cheaper price when compared to the other.
In Economics, the price of alternative or substitute products is a factor which is most likely to have the greatest influence on purchases by consumers with a limited amount of cash (money) in his or her possession.
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