Marketers Use the North American Industry Classification System to Evaluate

question 27

Multiple Choice

Marketers use the North American Industry Classification System to evaluate ________.

• A) fluctuating demand
• B) elastic demand
• C) business buying decision processes
• D) channels of distribution
• E) potential markets

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Definitions:

Human Capital

The total of competencies, wisdom, or intangible valuables of individuals that have the potential to yield financial value for the people, their places of employment, or their local area.

Labor-Market Discrimination

Occurs when two equally qualified individuals are treated differently based on arbitrary characteristics such as race, gender, religion, or nationality in employment decisions.

Compensating Differential

The additional amount of income that a worker requires to be indifferent between working in a job with undesirable conditions and a job with desirable conditions.

Compensating Differential

The difference in wages that arises between jobs with differing levels of risk, convenience, or other non-monetary characteristics, compensating for the less desirable aspects of certain jobs.