Peter Demos,director of Marketing at Holcomb,Inc

question 109

Multiple Choice

Peter Demos,director of marketing at Holcomb,Inc.,calls in Andrea Carter,the firm's marketing research director.Peter wants a study done to assess the company's image relative to a new competitor,Levitt Labs.He has a flexible time schedule,has very little money to devote to the research,and feels that a relatively low response rate will not be a major problem.Andrea will probably recommend using a ____ survey.

• A) mail
• B) telephone
• C) random
• D) personal interview
• E) population

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Definitions:

Actual Price Level

The Actual Price Level refers to the current general level of prices for goods and services in the economy at a specific point in time.

Actual Price Level

The current average of all prices of goods and services in an economy, indicating the cost of living and the economic environment.

Potential Output

The maximum amount of goods and services an economy can produce when it is fully employing its resources.

Aggregate Demand

The total demand for all goods and services in an economy at various price levels, over a specific time period.