A Pet Store Would Like to Use a Survey to Determine

question 44

Essay

A pet store would like to use a survey to determine which factors are most important to cat owners in determining the brand of cat food that they purchase.
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Decide on a reasonable means for conducting the survey to obtain the desired information.

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Definitions:

External Benefits

Advantages that result from a product or service's use that affect someone other than the direct consumer or producer, often justifying government intervention.

Consumption

The process by which goods and services are used by households and individuals, leading to a decrease in their availability.

Negative Externalities

Negative effects or costs that are incurred by third parties as a result of economic activities, for which they are not compensated, such as pollution.

Equilibrium

Equilibrium represents a state of balance where there is no net tendency for change, often used to describe the point at which market supply and demand balances each other.