Fusion Inc

question 34

Multiple Choice

Fusion Inc., a clothing manufacturer, has recently become very successful in terms of total revenue. The top management is now planning to venture into the confectionary business and earn similar profits in this new business. This is an example of ________ planning.

• A) operational
• B) strategic
• C) contingency
• D) integrated operational

Acknowledge the importance and challenges of external validity in experimental psychology.

Understand the ethical considerations and criticisms associated with different psychological tests.

Explore the impact of observational methods on psychological research and practice.

Understand the key components and goals of customer relationship management (CRM) programs.

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Definitions:

Inferior Good

A type of good whose demand decreases when the income of consumers increases, opposite to normal goods.

Consumer Income

Consumer income is the total earnings of an individual or household from various sources, including employment, investments, and government assistance, available for spending and saving.

Price Floor

A government or group-imposed limit that prevents prices of goods or services from falling below a certain level.

Equilibrium Price

The price in the market where the amount of products offered matches the amount of products people want to buy.