Which of the Following Is a Model Used to Evaluate

question 44

Multiple Choice

Which of the following is a model used to evaluate a location?

• A)Pareto analysis
• B)center-of-gravity method
• C)clustering technique
• D)cause-and-effect diagram

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Definitions:

Buyer's Market

A market condition characterized by an abundance of goods available for sale, giving buyers an advantage over sellers in terms of price negotiations.

Seller's Market

A market condition characterized by a shortage of goods available, leading to sellers having an advantage over buyers in price negotiations.

Independent Demand

Refers to the need for goods or services that is determined by external market forces, not linked to the production schedules of related items.

Derived Demand

A demand for a product or service that arises from the demand for another product or service. For example, demand for steel is derived from the demand for automobiles.