Which of the Following Items Is Typically Not Included in a Concept

question 62

Multiple Choice

Which of the following items is typically not included in a concept statement?

• A) a description of the product or service being offered
• B) a description of how the product or service will be sold and distributed
• C) a description of how much money the new venture needs
• D) the benefits of the product or service
• E) the intended target market

---

Definitions:

Midpoint Formula

A mathematical formula used to calculate the average of two points in a coordinate system, often used in economics to find the elasticity of demand or supply between two points.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.

Hamburger

A hamburger is a popular food item consisting of a cooked patty of ground meat, usually beef, placed inside a sliced bread roll or bun.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, reflecting the goods' sensitivity to price changes.