In the Department Store Project,license Plate Observations Could Be Used

question 6

Multiple Choice

In the department store project,license plate observations could be used to establish the primary trading area of a shopping mall.Observers record the license plate numbers of the automobiles in a parking lot.This is an example of ________.

• A)mechanical observation
• B)personal observation
• C)content analysis
• D)trace analysis

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Definitions:

Willing To Pay

The maximum amount a consumer is prepared to spend on a good or service, reflecting the perceived value or utility gained from the purchase.

Ticket

A token or voucher that entitles the holder to admission to an event, activity, or service.

Consumer Surplus

the difference between what consumers are willing to pay for a good or service and what they actually pay.

Market Price

The price at which a product or service is sold in the open market, determined by supply and demand.