Which of the Following Statements Best Characterizes the Changing Demographics

question 87

Multiple Choice

Which of the following statements best characterizes the changing demographics in Canada today?

• A)Marketers are modifying products to appeal to different ethnicities.
• B)Marketers are mainly focusing on the aging baby boomers.
• C)Marketers are making separate ethnic ads for the same products.
• D)Marketers are advertising more to the older demographic groups than the younger ones.

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Definitions:

Demand Function

A mathematical expression representing the relationship between the quantity demanded of a good and its influencing factors like price, income, and preferences.

Supply Function

A mathematical representation of the relationship between the quantity of a good or service that producers are willing to sell and the price of that good or service.

Equilibrium Price

The price point in the market where the amount of goods being offered matches the amount of goods consumers want to buy.

Inverse Demand Function

A mathematical function showing the relationship between the price of a good and the quantity demanded, illustrating how price can be determined as a function of quantity.