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