Which of the Following Are Potential Resources Salespeople May Use

question 97

Multiple Choice

Which of the following are potential resources salespeople may use to increase their market and customer knowledge base?

• A) Newspapers
• B) World Wide Web
• C) Trade magazines
• D) Trade associations
• E) All of the above are potential resources

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Definitions:

Price Floor

A government-imposed minimum price charged on goods and services, set above the equilibrium price to prevent market prices from falling too low.

Consumer Surplus

The discrepancy between consumer willingness to pay a total amount for a product or service and the amount they really do pay.

Consumer Surplus

The difference in the total amount consumers are predisposed and financially prepared to pay for a good or service versus their actual expenses.

Normal Good

A good for which demand increases as consumer income rises, and decreases when consumer income falls, all other factors being constant.