Match the Correct Answer to Each Statement

question 26

Short Answer

Match the correct answer to each statement.
(a) If the drought in Australia continues:
(b) If there is a technological improvement in the production of iPods:
(c) As a result of bushfires in Victoria's dairy farming area:

(i) the supply curve will shift to the right.
(ii) the supply of milk decreased.
(iii) the supply of wheat will decrease.

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Definitions:

Purchase Histories

Records of an individual's or organization's past purchases, used for analyzing buying behavior or trends.

Sentiment Mining

Data gathered by evaluating customer comments posted through social media sites such as Facebook and Twitter.

Quantitative Research

Structured responses that can be statistically tested to confirm insights and hypotheses generated via qualitative research or secondary data.

Primary Data

Data collected to address specific research needs.