A Group of High School Students Stop by a Sporting

question 63

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

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Definitions:

Upright Walking

The ability to walk on two legs with the body in an upright position, characteristic of humans and a key feature distinguishing them from other primates.

Homo Neanderthalensis

Extinct hominin; closest known relative of H. sapiens; lived in Africa, Europe, Asia.

Homo Erectus

Extinct hominin that arose about 1.8 million years ago in East Africa; migrated out of Africa.

Homo Floresiensis

A species of small-statured humans that lived on the Indonesian island of Flores until roughly 50,000 years ago.