Although Internal Data Sources Have a Number of Advantages, One

question 35

Multiple Choice

Although internal data sources have a number of advantages, one of their biggest problems is:

• A) there are rarely enough internal data.
• B) internal data are often not relevant to the marketing issue at hand.
• C) internal data are expensive to collect.
• D) internal data are often in a form that is not readily accessible.
• E) internal data are typically biased.

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Definitions:

Marginal Product

The additional output produced when one additional unit of an input is employed, with all other factors remaining constant.

Total Product

The total output of goods and services produced by a firm during a specific period.

Total Product

The overall quantity of output produced by a firm during a given period of time.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, while keeping other inputs constant.