business

a student purchased a laptop to use for homework assignments. in economic terms this computer would be classified as what good

consumer

Over the next few years, members of Generation X and Generation Y are expected to fill many job positions vacated by retiring Baby Boomers. This is an example of a change in

automated processes

which of the following is a potential problem in market economies

financial loss

a popular product is said to be

in demand

which activities are likely to increase a firm profit

increasing sales and decreasing expenses

which of the following situations involves finding an alternative resource to use in a place of a nonrenewable natural resource

powering a motor vehicle with biodiesel instead of gasoline

consumers are most willing to pay more for goods and services that bring them better

satisfaction

Retailing takes place whenever goods are

sold to the ultimate consumer

one of the following freedoms provided to individuals by the private enterprise system is the freedom to choose

where they will work

If a good or service is scarce, consumers will usually be

willing to pay money to get it

Which change provides the most time utility for a consumer?

staying open for business on the weekend

what role does utility play in the implementation of the marketing concept

a satisfaction gauge

the ultimate goal of all economic activity is

consumption

one reason a physicians practice might form a partnership as an LLP is to

ensure that the business experiences unlimited liability

ABC Specialty Wear is the only company that has written permission to use a national football team's logo on its sportswear. This is an example of a

licensing agreement

why are entrepreneurs important in a private enterprise system

they encourage the development of new products

Lack of economic growth is a major problem for __________ economic systems.

traditional

a manufacturer is a type of business that

turns raw goods into useful products