Which of the Following Is a Useful Practice When Making

question 32

Multiple Choice

Which of the following is a useful practice when making a marketing decision?

• A) Managers should never apply their own judgment when interpreting analytical findings.
• B) Managers should avoid seeking input from a wide range of people.
• C) Managers should selectively share only those results that support their own viewpoints.
• D) Managers should actively listen to opinions that differ from their own.

---

Definitions:

Black Market

A market in which goods or services are bought and sold illegally, either because it is illegal to sell them at all or because the prices charged are legally prohibited by a price ceiling.

Binding Price Ceiling

A legally established maximum price for goods or services, set below the equilibrium price, leading to shortages.

Supply and Demand

The fundamental model in economics that describes how prices are determined in a market based on the quantity of goods or services available and the desire for them.

Price Ceiling

A legally imposed maximum price for goods or services, intended to protect consumers from high prices.