The Information Obtained Through Environmental Scanning or Delphi Studies Can

question 90

Multiple Choice

The information obtained through environmental scanning or Delphi studies can then be used to conduct a(n) ________.

• A)foreign market opportunity analysis
• B)scenario analysis
• C)survey
• D)interview
• E)joint occurrence

---

Definitions:

Substitution Effect

A response to price changes in which consumers replace more expensive items with less costly alternatives.

Income Effect

The change in an individual's consumption patterns resulting from a change in their real income.

Labor Supply Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor that workers are willing to supply.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to replace more expensive items with cheaper alternatives.