Briefly describe the three key points managers must consider when using expert opinion, consumer surveys, test marketing, and price experiments in analyzing consumer behavior
What will be an ideal response?
Managers must consider whether the participating groups are truly representative of the larger population, whether the answers given in these formats represent actual market behavior, and how to isolate the effect of different variables that influence demand.
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An example of financial capital is
A) bonds. B) computers. C) the talents of a highly paid movie star. D) machines. E) buildings.
Using the information in Situation 20-2, if taxes increase by $10, then the equilibrium aggregate output will change by
A) -$90. B) -$10. C) $10. D) $90.
An increasing federal budget deficit will ________ the federal government debt as this will ________ the total value of U.S. Treasury bonds outstanding
A) increase; increase B) increase; decrease C) not impact; not change D) not impact; be offset by
Which of the following characterizes an oligopolistic industry?
a. Few firms and standardized products b. Few firms and differentiated products c. Few firms and wither standardized or differentiated products d. A large number of competing firms