When Procter & Gamble Sent Video Crews into Households in the U.K.,Germany,and

question 4

True/False

When Procter & Gamble sent video crews into households in the U.K.,Germany,and China to capture people's daily routines and product interaction,this was an example of both primary data gathering and the use of observation as a market research method.

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Definitions:

Numeraire

A unit of account or standard measure in economics used to compare the value of goods or services.

Pareto Optimal

Another term for Pareto Efficient; describes a situation where no one's condition can be improved without worsening someone else's condition.

Initial Endowment

The initial quantity of goods, services, and assets that an individual, organization, or economy possesses.

Pareto Optimal

An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.