A Marketing Class of 50 Students Evaluated the Instructor Using

question 38

Multiple Choice

A marketing class of 50 students evaluated the instructor using the following scale: superior,good,average,poor,or inferior. The descriptive summary showed the following survey results: 2% superior,8% good,45% average,45% poor,and 0% inferior.

• A)The instructor's performance was great!
• B)The instructor's performance was inferior.
• C)Most students rated the instructor as poor or average.
• D)No conclusions can be made.

---

Definitions:

Prices In Resource Markets

The costs associated with purchasing inputs like labor, land, and capital in markets where they are traded.

Relative Scarcity

The condition where the availability of resources is limited compared to the unlimited wants and needs.

Demand For Resource

The desire and willingness of firms or individuals to acquire resources at various price levels.

Resource

Refers to assets or inputs used in the production of goods and services, such as time, money, or raw materials.