Offering a Product for Sale in a Small Geographic Area

question 214

Multiple Choice

Offering a product for sale in a small geographic area to help evaluate potential market actions is called a(n)

• A)micro market.
• B)test market.
• C)experimental market.
• D)simulated market.
• E)trial market.

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Definitions:

Readily Used

implies resources or items that are easily accessible and can be immediately employed for a specific purpose or need.

Great Recession

A severe global economic downturn that began in 2007 and lasted until 2009, marked by high unemployment and significant financial instability.

Opportunity Cost

The concept of opportunity cost represents the benefits a person or business misses out on when choosing one alternative over another.

Speculative Motive

The desire to hold cash or assets in anticipation of making gains based on future price movements.