VALS Segments Stand Apart; One Represents the Group with the Highest

question 3

Multiple Choice

VALS segments stand apart; one represents the group with the highest resources and innovation and the other represents the lowest resources and innovation.These two groups are the__________ and the __________.

• A) Thinkers; Believers
• B) Strivers; Survivors
• C) Achievers; Strivers
• D) Innovators; Survivors
• E) Experiencers; Makers

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, due to higher market price.

Individual Producer Surplus

The net gain to an individual seller from selling a good; equal to the difference between the price received and the seller’s cost.

Phantom Tickets

Tickets for an event that are sold or promised to a customer but actually do not exist or are not available.

Producer Surplus

Producer surplus refers to the difference between what producers are willing to accept for a good or service versus what they actually receive, essentially measuring the benefit or surplus producers gain from transactions.