The Value of an Offering Is Described as the ________

question 4

Multiple Choice

The value of an offering is described as the ________.

• A) price consumers are charged for a product
• B) cost of manufacturing a product
• C) degree to which consumer demand for a product is positive
• D) sum of the tangible and intangible benefits and costs to customers
• E) intangible benefits gained from a product

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Definitions:

Actual Authority

The express and implied powers a principal intentionally grants to its agent.

Implied Authority

Authority of an agent that is not expressly granted but is inferred from the acts or the conduct of the principal.

Apparent Authority

A form of authority that a third party reasonably believes an agent has, based on the principal's representations, leading the third party to conclude that the agent is acting within the scope of their authority.

Voidable

A legal term referring to a contract or agreement that may be declared invalid by one of the parties due to issues like fraud or misrepresentation.