The Fact That Snow-Blowers Tend to Sell Better in the North

question 47

Multiple Choice

The fact that snow-blowers tend to sell better in the North than in the South illustrates the importance of considering __________ in marketing planning.

• A) climate
• B) urban living
• C) culture
• D) age

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Definitions:

Shortage/Surplus

A market condition where the quantity of a good supplied is not equal to the quantity demanded, with a shortage being a deficit and a surplus being an excess.

Minimum Wage

The lowest legal hourly pay rate that employers can pay to workers.

Recession

A phase of brief economic downturn marked by a decrease in business and manufacturing activities, typically recognized when there's a drop in Gross Domestic Product (GDP) for two consecutive quarters.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product, intended to protect consumers from high prices, but can lead to shortages.