In a market economic system, who owns most of the means of production of goods and services?
Answer: Businesses and individuals
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Marketing Cluster
- If total cost is $3,000 with zero quantity produced and $6,500 with 1,000 items produced, what is the marginal cost of producing each item?
- Research and development speed up production by
- When a manufacturer asks a business to collect information from customers concerning how to improve a product, which type of utility is most likely to be affected?
- A grocery store keeps track of customers' purchases through their loyalty cards. This is an example of
- Which of the following is an example of an employee using nonverbal communication effectively to reinforce his/her service orientation:
- A customer has purchased an item from you and is now faced with carrying six packages. You can use a practical idea to create positive customer relations by
- When taking notes during a seminar, a businessperson should write down
- Which of the following is a type of simple written report that usually is distributed to employees within a business:
- Because Caroline does not have enough time to read an entire 400-page business report, what section of the report should she review to obtain an overview of the most important content?
- What is one reason why businesses write informational messages?
- When businesses need to formalize the information provided to employees, customers, or other businesses, they often use __________ communication.
- During a brainstorming session, should participants be allowed to add new ideas to the list that are based on another group member's idea?
- A producer can minimize channel conflict among its distributors and retailers by
- A manufacturer that has 65% of the market share is pressuring its wholesalers to sign an agreement stating that they will not sell competing products. In this situation, the agreement is illegal because it
- Which of the following is a benefit of channels of distribution:
- Providing marketing information is an important channel activity. Businesses rely on marketing information to determine
- Which of the following statements is true regarding joint ventures:
- A human resources manager sets up a computerized system for maintaining employee records. What type of resource is the manager using?
- When a customer buying an appliance, piece of electronics, or vehicle asks questions about repairs, the salesperson should explain features and benefits relating to its
- Information about new or unusual uses for a product can often be obtained easily from
- What type of law prevents salespeople from one company from interfering with their competition's activities?
- A selling activity that helps salespeople to make sales is
- One way that salespeople develop and maintain positive relationships with customers is by providing excellent
- In what communications channels are holding press conferences and giving interviews used?