Froggy Jumps Marketing EconomicsOnline version Getting ready for some terms by Karen Mountain 1 A recession occurs when a nation's GDP a per capita is less than that of neighboring countries b of the current year is less than that of the previous year. c declines for two or more consecutive quarters. 2 Indirect competition occurs when a customers do not prefer one product over another. b products provide alternative solutions to the same market. c competition is not established between two companies in the same industry. 3 What is the most common gauge of the overall expansion or contraction of an economy? a inflation b gross domestic product c recession 4 What is the relationship between purchasing power and inflation? a Purchasing power and inflation rise and fall together. b Purchasing power decreases with rising inflation. c Purchasing power and inflation are independent of each other. 5 Why do marketers tend to target educated consumers? a They are hard to please and cannot be convinced easily. b They have very low levels of disposable income. c They are more likely to comprehend an advertising message.
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