Which of the Following Is a Measure of Changes in Prices

question 55

Multiple Choice

Which of the following is a measure of changes in prices of goods and services in the product and service markets over time?

• A)Producer price survey
• B)Product market competitor wage survey
• C)Labor market competitor wage survey
• D)Consumer price index

Understand the concept of incremental and differential costs.

Know that sunk costs are irrelevant to future decision-making.

Recognize the relevance of out-of-pocket costs for current and future decisions.

Identify the importance of opportunity cost in decision-making.

---

Definitions:

Profit

The financial gain obtained when the revenue from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Costs Money

Costs money is a term indicating that something requires payment or expenditure to obtain or maintain.

Return on Impressions Model

A method used to evaluate the effectiveness of advertising by calculating the returns generated from every impression made on the target audience.

Opportunities to See

A metric used in advertising to estimate the number of chances an audience has to view an advertisement.