What Is the Function of the NAICS

question 61

Multiple Choice

What is the function of the NAICS?

• A) It provides consumer panel service for tracking retail purchases and motivations.
• B) It collects store tracking data used with consumer panel data to track the influence of advertising on consumers of packaged goods.
• C) It provides information about the number of establishments, sales volume, and number of employees in each industry broken down by geographic area.
• D) It measures e-commerce activity in 27 countries, providing insights into 37 marketplaces via interviews.

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Definitions:

Consumer Surplus

The incongruity between the maximum amount consumers are willing and able to pay for a good or service and the actual amount they end up paying.

Total Utility

The overall satisfaction or pleasure a consumer derives from consuming a certain amount or combination of goods and services.

Marginal Utility

The supplementary enjoyment or advantage gained by consuming one more unit of a good or service.

Consumer Surplus

The differentiation between the total investment consumers are willing and able to make in a product or service and the investment they end up making.