Curves International, Which Was Founded in 1992 by Gary Heavin

question 23

Multiple Choice

Curves International, which was founded in 1992 by Gary Heavin, is a fitness center just for women. At the time Curves was founded, most fitness centers targeted fitness enthusiasts and included a number of amenities, ranging from showers and towel service to swimming pools. Rather than competing head-to-head against these centers, Heavin opened a fitness center targeted towards what he felt was an ignored part of the marketplace: women who wanted to lose weight. The best way to describe how Heavin's business idea was recognized is:

• A) brainstorming
• B) talking to consumers
• C) reading industry reports
• D) observing trends
• E) finding a gap in the marketplace

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Definitions:

Short Run

A period in economic analysis where at least one input is fixed and cannot be adjusted by firms, contrasting with the long run where all inputs are variable.

Total Profit

The amount of financial gain made by a business or individual after accounting for all expenses and costs.

Most Efficient Output

refers to the level of production at which a firm or economy can produce the maximum amount of goods or services with the least waste of resources and effort.

Total Profit

The financial gain made in a transaction or over a period of time, which equals total revenues minus total costs.