Database Information Allows Organizations to Build Which of the Following

question 17

Multiple Choice

Database information allows organizations to build which of the following?

• A)Customer profiles
• B)Loyalty schemes
• C)Understanding of shopper behaviour
• D)All of the above

Distinguish between movements along the demand or supply curve and shifts in the demand or supply curves.

Identify the consequences of changes in factors other than the price on the quantity supplied and demanded.

Analyze the effects of technological changes, input prices, and number of sellers on supply.

Understand the law of supply and its implications for the relationship between price and quantity supplied.

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Definitions:

Monopolist

An individual or entity that holds exclusive control over the supply of a particular goods or service, allowing them to manipulate market conditions.

Marginal Cost

The increase in total production cost that arises from producing one additional unit of a good or service.

Average Cost

The total cost of production divided by the number of goods produced, also known as unit cost.

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach equilibrium.