An Organic Farmer Has Identified Three Distinct Groups Who Might

question 54

Multiple Choice

An organic farmer has identified three distinct groups who might be interested in his products: vegetarians,people who are concerned about chemicals in their foods,and people who consider themselves innovators and trendsetters.These three groups are examples of .

• A)market segments
• B)marketing mixes
• C)value propositions
• D)marketing intermediaries
• E)mass markets

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Definitions:

Short-Run Average Total Cost Curve

A graphical representation that shows how the average total cost of production changes as the quantity produced changes in the short run.

Spreading Effect

The process by which increased investment leads to greater levels of income and consumption.

Diminishing Returns

A rule indicating that after reaching a specific threshold, further investments in a given sector will not yield higher profits at the same rate if all other factors stay unchanged.

Marginal Cost

The heightened expense incurred by fabricating an extra unit of a product or service.