Which of these statements about formula presentations is true? The formula presentation is based on the SPIN procedure of developing and giving the sales presentation. New-task buying situations are a good time to use the formula presentation method. An advantage of the formula presentation is that it is most adaptable to complex selling situations. Customers get the greatest amount of talking time at the beginning of the formula sales presentation. To successfully use the formula sales presentation method, the salesperson must have previously identified the prospect's needs and wants.

Consider the market for gas-powered small cars. assume gas-powered small cars are a normal good. for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column. event demand determinant supply determinant people decide to have more children. the price of electric small cars falls. the discovery of a new source of iron ore lowers steel prices. an economic recession lowers people’s wealth. a number of major car dealers decide to switch from selling gas-powered cars to selling electric cars. show the effect of the following event on the market for gas-powered small cars: people decide to have more children for each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.