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Textbooks / Business / Essentials of Marketing Research (with Qualtrics Printed Access Card)

Essentials of Marketing Research (with Qualtrics Printed Access Card) Solutions

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ISBN: 9781285752037

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Textbook: Essentials of Marketing Research (with Qualtrics Printed Access Card)
Edition:
Author: William G. Zikmund; Barry J. Babin
ISBN: 9781285752037

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Key Business Terms and definitions covered in this textbook
  • appreciation

    an increase in the value of a currency as measured by the amount of foreign currency it can buy

  • average revenue

    total revenue divided by the quantity sold

  • compensating differential

    a difference in wages that arises to offset the nonmonetary characteristics of different jobs

  • discount rate

    the interest rate on the loans that the Fed makes to banks

  • excludability

    the property of a good whereby a person can be prevented from using it

  • Giffen good

    a good for which an increase in the price raises the quantity demanded

  • income effect

    the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve

  • informational efficiency

    the description of asset prices that rationally reflect all available information

  • liquidity

    the ease with which an asset can be converted into the economy’s medium of exchange

  • lump-sum tax

    a tax that is the same amount for every person

  • market economy

    an economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services

  • monetary neutrality

    the proposition that changes in the money supply do not affect real variables

  • physical capital

    the stock of equipment and structures that are used to produce goods and services

  • proportional tax

    a tax for which highincome and low-income taxpayers pay the same fraction of income

  • rational people

    people who systematically and purposefully do the best they can to achieve their objectives

  • real GDP

    the production of goods and services valued at constant prices

  • structural unemployment

    unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one

  • total cost

    the market value of the inputs a firm uses in production

  • total revenue (for a firm)

    the amount a firm receives for the sale of its output

  • unemployment rate

    the percentage of the labor force that is unemployed