Your _____ Market Consists of a Specific Group of Consumers

question 173

Multiple Choice

Your _____ market consists of a specific group of consumers who are interested in your product,have access to it,and possess the means to buy it.

• A)strategic
• B)target
• C)popular
• D)local

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Definitions:

Goods Completed

Finished goods that have gone through the manufacturing process and are ready to be sold or distributed.

FIFO Method

An inventory valuation method that assumes the first items placed in inventory are the first sold, standing for "First In, First Out."

Cost Per Equivalent Unit

A measurement used in cost accounting to calculate the cost assigned to each unit produced, by considering the costs incurred at each stage of production.

Materials Used

The cost of raw materials and supplies that are consumed in the manufacturing process to produce goods.