Multiple Choice
In the context of market equilibrium, what typically occurs when the quantity demanded exceeds the quantity supplied?
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3. The Market Forces of Supply and Demand
Market Equilibrium
Multiple Choice
Which of the following is NOT a market segmentation approach?
A
Psychographic segmentation
B
Demographic segmentation
C
Market equilibrium segmentation
D
Geographic segmentation
Verified step by step guidance1
Understand that market segmentation is the process of dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics.
Identify common types of market segmentation approaches, which typically include demographic segmentation (age, gender, income), psychographic segmentation (lifestyle, values, personality), and geographic segmentation (location-based).
Recognize that 'market equilibrium segmentation' is not a standard or recognized approach to market segmentation; instead, market equilibrium is a concept in microeconomics related to supply and demand balance, not segmentation.
Compare each option given: psychographic, demographic, and geographic segmentation are all valid market segmentation methods, while market equilibrium segmentation is not.
Conclude that the option 'market equilibrium segmentation' is NOT a market segmentation approach.
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