Which Answer Is an Example of an Organization Using Analytics

question 12

Multiple Choice

Which answer is an example of an organization using analytics?

• A) A social media site that uses computer-generated algorithms that collect and analyze data on its users
• B) A grocery store that gives out free samples to the first 100 customers
• C) A mall representative who questions mall customers about their shopping preferences
• D) A political party that tracks fund-raising efforts

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Definitions:

Autarky Price

The price of a good or service within a country that is not engaged in trade with other countries, self-sufficiently.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, often visualized as the area above the supply curve and below the market price.

International Trade

The exchange of goods and services between countries, driven by comparative advantages and resulting in increased global economic interaction.

Autarky Price

The price of a good within a closed economy that does not engage in trade with external entities.