A Blind Product Test Is a Method of Posttesting the Effectiveness

question 148

True/False

A blind product test is a method of posttesting the effectiveness of advertisements and during this method respondents do not see copies of the magazine after their initial reading but are asked to recall the ads from memory.

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Definitions:

Marginal Cost

The supplementary cost of manufacturing another unit of a product or service.

Consume

The action of using up goods and services to satisfy personal or collective wants or needs.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing to do one thing over another.

Production Possibilities Schedule

A table or graph that shows the various combinations of two goods or services that an economy can produce using all its resources efficiently.