Businesses Use Demographic Studies to Understand Where People Live,their Lifestyles,and

question 92

True/False

Businesses use demographic studies to understand where people live,their lifestyles,and what they are likely to buy.
Demography is the statistical study of the human population to learn its size,density and characteristics.Since many goods and services appeal to customers with specific demographic characteristics (such as age or income),studying demographic trends can help businesses determine whether the demand for a good is likely to rise or fall.

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Definitions:

Pre-tax Cost Reduction

A reduction in expenses that occurs before taxes have been applied, aimed at improving a company's profitability.

Tax Bracket

A range of income amounts that are taxed at a particular rate. Tax brackets result in higher income being taxed at higher rates.

Land

A resource that refers to the natural area or earth's surface, including any resources over or under it, that is used for various purposes like agriculture, building, or recreation.

Depreciated

Refers to the reduction in the value of an asset over time due to wear and tear or obsolescence.