Max Needs to Measure the Power of Buyers in the Tablet

question 94

Multiple Choice

Max needs to measure the power of buyers in the tablet market for his company.He is using a step in the ______.

• A)Competitive analysis
• B)SWOT analysis
• C)Company situation analysis
• D)Management analysis

---

Definitions:

Allocatively Efficient

A state of resource allocation in which it is impossible to make any one individual better off without making someone else worse off.

Socially Optimal Price

The price of a good or service that reflects the external costs and benefits to society, aiming to achieve the most efficient allocation of resources.

Big Data

Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Reservation Price

The maximum or minimum price at which a consumer is willing to buy or sell a good or service.