Over a certain period of time,an entrepreneur changes the price of a specific product and tries to carefully measure what effect that change alone has on the number of that product that is sold. This process is known as
A) reflection.
B) theorizing.
C) top down analysis.
D) systematic observation.
E) qualifying common sense.

Question

Quizplus · Accepted Answer

The process described in the question is an example of systematic observation, where the entrepreneur carefully measures the effect of changing the price on the sales of a specific product over a certain period of time. Reflection, theorizing, and top down analysis may involve more subjective or theoretical approaches to analyzing business decisions, while qualifying common sense is not a recognized research method.

Over a Certain Period of Time,an Entrepreneur Changes the Price