Which of the Following Is Least Likely to Be a Factor

question 144

Multiple Choice

Which of the following is least likely to be a factor in developing a sales forecast?

• A) geographic area in which the product is sold
• B) last year's sales
• C) entire product line
• D) number of salespeople employed by the firm's major competitors
• E) expected level of marketing effort

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Demand Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity demanded by consumers over a period of time.

Consumer Surplus

The discrepancy between the entire sum buyers are ready and capable of paying for a product or service and what they really spend.

Marginal Utility

The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.