If a Cheese Factory Was Interested in Estimating the Market

question 26

True/False

If a cheese factory was interested in estimating the market potential for a new light cheese and estimated the potential by multiplying a base number (population) by several adjusting percentages (e.g., personal discretionary income per capita, average percentage of discretionary income spent on food, etc.), it would be using the chain-ratio method to estimate market potential.

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Definitions:

Investigations

Systematic inquiries or examinations to discover and examine facts or information, typically to resolve issues or cases.

Legislatures

The governing bodies responsible for making laws in a state or country.

Statutory Law

Law enacted by a legislative body, distinguished from case law or common law.

Administrative Law

The branch of law that governs the activities and operations of government agencies, including rulemaking, enforcement, and adjudication.