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In the year 2000, olive oils made up just 40% of the liquid oils marke

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In the year 2000, olive oils made up just 40% of the liquid oils marke  [#permalink]

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New post 02 Oct 2018, 13:28
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In the year 2000, olive oils made up just 40% of the liquid oils market, with standard oils taking 52% and speciality oils accounting for the remainder. But now, fuelled by health concerns and a general move towards premium products, the tables have turned. Today, the olive oil sector is worth some $104 million and alone accounts for an estimated 51% of the total market.

Which of the following conclusions can most properly be drawn from the information above?

(A) In 2000, the total worth of the olive oil sector was less than $104 million.
(B) The total sales of the standard oils at present time are lower than their sales in 2000.
(C) Olive oil is healthier than all other liquid oils available in the market.
(D) The market share of the standard oils category today must have declined from what it was in 2000.
(E) The total worth of the specialty oil category today is higher than what it was in 2000.

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Re: In the year 2000, olive oils made up just 40% of the liquid oils marke  [#permalink]

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New post 02 Oct 2018, 13:58
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carcass wrote:
In the year 2000, olive oils made up just 40% of the liquid oils market, with standard oils taking 52% and speciality oils accounting for the remainder. But now, fuelled by health concerns and a general move towards premium products, the tables have turned. Today, the olive oil sector is worth some $104 million and alone accounts for an estimated 51% of the total market.

Which of the following conclusions can most properly be drawn from the information above?

(A) In 2000, the total worth of the olive oil sector was less than $104 million.
(B) The total sales of the standard oils at present time are lower than their sales in 2000.
(C) Olive oil is healthier than all other liquid oils available in the market.
(D) The market share of the standard oils category today must have declined from what it was in 2000.
(E) The total worth of the specialty oil category today is higher than what it was in 2000.


I believe it boils down to a and d.

A can be eliminated as we don’t know what was the value back then? Maybe it was more.

D is more sound as it was 40% back then and now it is 51% so it leaves 49% for all the others. Standard oil was 52% and now is part of 49% so it definitely went down.

Answer choice D

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Re: In the year 2000, olive oils made up just 40% of the liquid oils marke  [#permalink]

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New post 02 Oct 2018, 14:08
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The argument talks about a comparison between year 2000 when olive oils made up 40% of liquid oils market and standard oils took 52% and current times when fueled by health concerns and a general shift towards premium products current year has olive oils accounting for $104 million and 51% of market share

We need to find a suitable conclusion and hence our selected answer choice must be absolutely provable by the info provided in argument.

Let us look at the options.

(A) In 2000, the total worth of the olive oil sector was less than $104 million. WRONG - total networth cannot be compared with 2000 as the argument only mentions total networth today and the market could have expanded or shrunk over the years
(B) The total sales of the standard oils at present time are lower than their sales in 2000. WRONG - Nothing about total sales can be concluded from the market share as we are talking about dollar value of market. Based on price the volume (or sales) could be higher or lower
(C) Olive oil is healthier than all other liquid oils available in the market. WRONG - this is a real world trap. Even though it could be the general belief we cannot prove it using the info in argument.
(D) The market share of the standard oils category today must have declined from what it was in 2000. CORRECT - this is explicitely mentioned in the argument as market share in 2000 was 52% and market share today would be lesser than 51%
(E) The total worth of the specialty oil category today is higher than what it was in 2000. WRONG - not mentioned in argument

Hence Option (D) is our choice.

Best,
G

carcass wrote:
In the year 2000, olive oils made up just 40% of the liquid oils market, with standard oils taking 52% and speciality oils accounting for the remainder. But now, fuelled by health concerns and a general move towards premium products, the tables have turned. Today, the olive oil sector is worth some $104 million and alone accounts for an estimated 51% of the total market.

Which of the following conclusions can most properly be drawn from the information above?

(A) In 2000, the total worth of the olive oil sector was less than $104 million.
(B) The total sales of the standard oils at present time are lower than their sales in 2000.
(C) Olive oil is healthier than all other liquid oils available in the market.
(D) The market share of the standard oils category today must have declined from what it was in 2000.
(E) The total worth of the specialty oil category today is higher than what it was in 2000.

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Re: In the year 2000, olive oils made up just 40% of the liquid oils marke   [#permalink] 02 Oct 2018, 14:08
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In the year 2000, olive oils made up just 40% of the liquid oils marke

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