Which of the following is NOT typically considered a part of market research in economics?

• A. Setting government fiscal policy
• B. Examining competitor pricing strategies
• C. Studying supply and demand trends
• D. Analyzing consumer preferences

Answer: (A)

Verified step by step guidance

1. Step 1: Understand the concept of market research in economics. Market research involves gathering and analyzing data about consumers, competitors, and market trends to make informed business decisions.
2. Step 2: Identify typical activities included in market research, such as examining competitor pricing strategies, studying supply and demand trends, and analyzing consumer preferences. These activities help businesses understand the market environment.
3. Step 3: Recognize that setting government fiscal policy is a macroeconomic activity related to government decisions on taxation and spending, which is outside the scope of market research focused on individual markets or firms.
4. Step 4: Compare each option to the definition of market research and determine which activity does not fit within the typical scope of market research.
5. Step 5: Conclude that 'Setting government fiscal policy' is NOT typically considered part of market research because it involves government-level economic policy rather than market-level data analysis.