The NAICS Classification System Is a Useful Tool for Segmenting

question 41

True/False

The NAICS classification system is a useful tool for segmenting business markets by demographic characteristics.

---

Definitions:

Preferences

Individual choices or tastes that determine the selection of goods and services over others based on factors like utility, convenience, or price.

Contextual Information

Contextual information refers to the background or circumstances surrounding an event or situation that helps in understanding its full implications.

Behavioral Economists

Economists who study the psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical theory.

Myopia

A condition in which close objects appear clearly, but far ones don't.