A Fabric Manufacturer Has Just Created a New Combination of Colour

question 157

Multiple Choice

A fabric manufacturer has just created a new combination of colour and fabric types.The firm wants to be sure of the way consumers perceive its new product.The firm is concerned with the product ________.

• A)idea
• B)concept
• C)image
• D)proposal
• E)presentation

Understand the concept of efficiency in economics.

Differentiate between empirical and theoretical aspects of economics.

Comprehend the impact of external factors on economic indicators and outcomes.

Grasp the significance of testing economic theories with data (empirical economics).