Blocks and Census Tracts Are Important Units in the Census

question 60

Multiple Choice

Blocks and census tracts are important units in the Census of Population to small retailers since _____.

• A)this data is free
• B)this data is timely
• C)retailers can combine blocks and tracts to resemble their trading area
• D)online computer tapes are available

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Definitions:

80/20 Principle

Also known as the Pareto Principle, it suggests that roughly 80% of effects come from 20% of causes, commonly applied in business and economics.

FAB Closing

A sales technique that emphasizes the Features, Advantages, and Benefits of a product or service during the closing phase of a sales pitch.

Extra-Large

A size category indicating items significantly larger than the standard or medium size.

Classifies Accounts

The process of organizing customer accounts into categories for targeted marketing strategies, sales efforts, or customer service improvement.