What Information Would You Seek If McDonald's Asked You to Do

question 10

Short Answer

What information would you seek if McDonald's asked you to do research on identifying the best location for a franchise in a given area?

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Definitions:

Normal Good

A good for which demand increases when consumer income rises, and decreases when consumer income falls.

Inferior Good

A type of good whose demand decreases when consumer income rises, contrary to normal goods, which see increased demand as incomes rise.

Inferior Good

A type of good whose demand decreases when the income of consumers increases.

Normal Good

An item whose demand escalates as the income of consumers increases, and contracts when their income decreases.