One of the Purposes of an Economic Analysis as Part

question 10

Multiple Choice

One of the purposes of an economic analysis as part of a feasibility study is to

• A) formulate alternative product and service concepts.
• B) identify customer needs.
• C) assess whether there is enough demand for the proposed product.
• D) look at estimates of production and development costs and compares them to estimated sales volume.

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Definitions:

Resources

Assets or inputs needed for individuals or organizations to function effectively.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties find a mutually acceptable solution.

Formal Hearing

A structured legal proceeding where evidence and arguments are presented to determine an outcome in a dispute.

Mediator

A neutral third party who facilitates negotiations and conflict resolutions between disputing parties to reach a mutual agreement.