Saks Fifth Avenue Wants to Learn About Its Consumers' Attitudes

question 101

Multiple Choice

Saks Fifth Avenue wants to learn about its consumers' attitudes toward online purchases. There are numerous studies that are available about consumers and online buying, but Saks believes its customers might be different from the usual online consumer profile, so they decide to conduct their own study. If Saks were to use the available data about consumer attitudes, it would be using ___ data; however, if Saks does its own study it would collect ______ data.

• A) descriptive; primary
• B) experimental; descriptive
• C) secondary; primary
• D) primary; secondary
• E) secondary; descriptive

Comprehend the impact of technological changes on the demand for inputs.

Grasp the relationship between the production/use of capital and labor productivity, along with its effects on wages.

Understand the conditions for profit maximization in terms of resource allocation.

Recognize how shifts in factor demand result from changes in various economic conditions.

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Definitions:

Modern Technology

Contemporary tools and machinery developed through technological advancements, used to facilitate daily activities and processes.

Social Interactions

Exchanges between two or more individuals that can alter the behavior and cognitions of those involved.

Stratification Systems

Stratification systems are the hierarchical arrangements of people in a society based on their access to resources, power, and prestige.

Social Change

The transformation over time of cultural values, norms, institutions, structures, and social practices.