Level of Education Is an Example of Segmentation By

question 195

Multiple Choice

Level of education is an example of segmentation by:

• A)psychographics.
• B)generations.
• C)demographics.
• D)geodemographics.

Interpret public opinions and economist views on the advantages and disadvantages of free trade.

Recognize the implications of trade policies for economic welfare and market equilibrium.

Understand the basic principles of domestic supply and demand in the absence of international trade.

Determine whether a country will become an importer or exporter given the domestic and world prices.

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Definitions:

Good Y

A hypothetical or generic item used in economic examples or models to represent a type of product or service in the market.

Units

Basic quantities or measures adopted to quantify and express variables in a particular field or for specific goods.

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for another good, while maintaining the same level of utility.

Good Y

A generic term used to denote a particular good or product in economic models.