Which of the following statements best describes the results provided by market research?

Market research tells producers what consumerswant and what they're willing to payExplanation:... Show More

Question 1 Which group of players uses the goods and services produced in the game of economics?The group of players that uses goods and services produced in the game of economics are the CONSUMERSQuestion 2Which does NOT describe the role that workers play in the economy?The role that does not describe the role of workers in the economy is act as both consumers and producers. They were never consumers and producers in the economy, they only help in production and make decisions based on business model Question 3In economics, businesses do all EXCEPT which of the following?Businesses does not guide the economy In economics rather they hire workers that helps to carryout production activities among others and organize production and either purchase resources or produce the resourcesQuestion 4Which of the following statements best describes the results provided by market research?Market research helps producers understand market forces better, the market forces has to do with the law of demand and supply which helps to acquire the market skills and plan for future occurrence.Question 5Which consumer purchase is the result of peer pressure?mirrored sunglasses because all your friends have themQuestion 6Consumers play an important economic role because they decide on what goods and services to use and buy, how much to buy, and what prices they are willing to pay for it.TrueQuestion 7Producers try to satisfy the needs and wants of consumers for goods and services. They have to understand what consumers need or want and how much they are willing to pay for those goods and services.TrueQuestion 8Culture, peer pressure, price, and environmental changes influence the decisions made by producers and consumers.TrueQuestion 9Which of the following activities shows the government playing the role of producer?The government buys materials to build a bridge.Question 10Which of the following activities shows the government playing the role of consumer?The government uses electricity to run its offices.Explanation:... Show More

Market research tells producers what consumers want and what they're willing to pay.Marketers perform market research so they can accurately determine who their audience is, what people will buy, how much they will buy and how much they will pay for it. Without conducing this research they could be spending money trying to reach the wrong audience. They could also have their product set too high or too low and potentially lose money/customers. ... Show More