Which of the Following Is a Common Source of Data

question 20

Multiple Choice

Which of the following is a common source of data supplied to internal databases?

• A)the mass media
• B)the stockholders
• C)the marketing department
• D)the competitors
• E)the Web

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Definitions:

Elastic Demand

A situation in which the quantity demanded of a good or service significantly changes in response to a change in price.

Close Substitutes

Products or services that can easily replace one another in usage or consumption.

Demand Curves

Graphs showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.

Price Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change.