Part of a Wendy's Survey That Assessed Fast-Food Restaurant Preferences

question 20

Multiple Choice

Part of a Wendy's survey that assessed fast-food restaurant preferences among present and prospective consumers seeks details about personal and household demographic characteristics. Such questions help Wendy's to

• A)know if children eat at its restaurants.
• B)understand the needs and wants of potential customers.
• C)segment the fast-food market.
• D)know how much people earn so it knows whether it should take credit cards for purchases.
• E)send these respondents coupons for the products that would appeal to them most.

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Definitions:

Laissez-faire

Laissez-faire is an economic philosophy advocating minimal government intervention in the business affairs of private individuals and enterprises.

Command Economies

Economic systems where the government or central authority controls all major aspects of production and distribution of goods and services.

North Korea

An East Asian country officially known as the Democratic People's Republic of Korea, noted for its centralized economy and autocratic government.

Specialization

The use of the resources of an individual, a firm, a region, or a nation to concentrate production on one or a small number of goods and services.