The PRIZM Program

question 154

Multiple Choice

The PRIZM Program:

• A)was developed by the U.S. Marketing Association.
• B)identifies four interconnected children lifestyle categories.
• C)is used in lifestyle analysis.
• D)identifies six interconnected adult lifestyle categories.

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Definitions:

Contribution Margin

The amount by which a product's selling price exceeds its total variable costs, contributing to covering fixed costs and generating profit.

Labor Hours

The total hours worked by employees for which they are compensated, often used in calculating labor costs in manufacturing.

Special Order

An order for goods or services that is not part of a company's regular offerings and is often customized or produced in a limited quantity.

Minimum Selling Price

The lowest price at which a business is willing to sell its products or services, often determined to cover costs or meet a specific profit threshold.