Which of the following is NOT a tool used to determine the target market in economics?

• A. Demographic analysis
• B. Consumer surveys
• C. Market segmentation
• D. Production possibility frontier analysis

Answer: (D)

Verified step by step guidance

1. Step 1: Understand the concept of 'target market' in economics, which refers to a specific group of consumers at whom a company aims its products and marketing efforts.
2. Step 2: Review the tools commonly used to identify and analyze target markets, such as demographic analysis (studying population characteristics), consumer surveys (gathering data on preferences and behaviors), and market segmentation (dividing the market into distinct groups).
3. Step 3: Recognize that the Production Possibility Frontier (PPF) analysis is a tool used in economics to illustrate trade-offs and opportunity costs in production, not for identifying or analyzing target markets.
4. Step 4: Compare each option to the purpose of determining a target market and identify which one does not fit this purpose.
5. Step 5: Conclude that Production Possibility Frontier analysis is NOT a tool used to determine the target market, as it serves a different function in economic analysis.