The Direct Marketing Method of Market Testing Is Most Likely

question 6

Multiple Choice

The direct marketing method of market testing is most likely used for _____.

• A)industrial services
• B)consumer durables
• C)consumer packaged goods
• D)consumer services

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Definitions:

Producer Surplus

The divergence between the price at which sellers are ready to offer a good or service and the price they actually obtain.

Economic Efficiency

A state in which resources are allocated in a way that maximizes the total benefit received by society from those resources.

Consumer Surplus

The divergence between the price consumers are willing to pay and what they really spend on a good or service.

Floor Price

The minimum price set by regulation, often by the government, below which a commodity cannot legally be sold in the market.