A Group of High School Students Stop by a Sporting

question 174

Multiple Choice

A group of high school students stop by a sporting goods store.The store has just received a new shipment of high-end racing bicycles.The bicycles range in price from $1,200 to $3,000.All of the students want one of these new bikes,but none has the means to buy one.Is this group of consumers a potential market for the expensive bikes?

• A)Yes,they are a potential market since they are interested in the bikes.
• B)No,they do not have the ability to purchase at this time.
• C)No,to qualify as a market,they must need the product.
• D)Yes,they are a market because this product could satisfy their consumer wants and desires.

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Definitions:

Power Distance

A measure of how power is distributed and the extent of acceptance of unequal power distribution within a society or organization.

Auditing Process

A systematic examination and evaluation of an organization's financial statements, processes, or systems to ensure accuracy, compliance, and integrity.

Triple Bottom Line

An accounting framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions.

Global Reporting Initiative

An international independent organization that helps businesses and governments worldwide understand and communicate their impact on issues such as climate change, human rights, and corruption.