Joe Carson, the Owner of Carson Sailboats, Is Concerned About

question 98

Multiple Choice

Joe Carson, the owner of Carson Sailboats, is concerned about slumping sales. Sales so far this year are 40 percent below last year's sales. Joe is concerned. He starts doing some research on the Internet to see if there are any trends he can identify to explain the slump. He then talks to several other people in the industry to get their opinions. Joe is conducting ________research.

• A)preliminary
• B)causal
• C)secondary
• D)exploratory

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Definitions:

Indifference Curves

Curves that represent combinations of various goods or services that provide the same level of satisfaction to a consumer.

Normal Good

A good for which demand increases as the income of consumers increases, showing a direct relationship between income and demand.

Inferior Good

A type of good for which demand decreases when the income of consumers increases, inversely related to income changes.

Indifference Curves

Curves that represent the locus of various points indicating combinations of goods giving equal satisfaction and utility to the consumer.