Which of the Following Statements Is a Normative as Opposed

question 296

Multiple Choice

Which of the following statements is a normative as opposed to a positive economic statement?

• A)Consumer spending generates more jobs.
• B)If the price of gasoline goes up, people buy less.
• C)Labor unions should be allowed to organize in every industry.
• D)Government intervention in markets is common in many countries.

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Definitions:

Shared Characteristics

Traits or features that are common among a particular group of people, items, or phenomena.

Market Segments

Distinct groups of potential consumers sorted by specific characteristics or behaviors, targeted with tailored marketing strategies.

Segmentation Process

The Segmentation Process is the method of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors, who might require separate products or marketing mixes.

Perceptual Map

A competitive analysis tool that creates a visual picture of product locations in consumers’ minds.