What Type of Study Is Based on the Fact That

question 22

Multiple Choice

What type of study is based on the fact that people with similar demographics tend to live close to one another?

• A) cluster analysis
• B) grouping analysis
• C) geodemographics
• D) geographical analytics
• E) VALS

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Definitions:

Consumer Surplus

The discrepancy between the aggregate sum consumers are prepared and can afford to spend on a product or service and the actual total amount they end up paying.

Coase Theorem

A principle that if property rights are clearly defined and transaction costs are low, private bargains will ensure that the market always reaches an efficient outcome regardless of who holds the initial property rights.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be positive or negative.

Cap-And-Trade

An environmental policy mechanism that sets a cap on emissions and allows businesses to buy and sell permits for the right to emit.