Which of the Following Holds That Consumers Prefer Products That

question 105

Multiple Choice

Which of the following holds that consumers prefer products that are widely available and inexpensive?

• A) the product concept
• B) the production concept
• C) the selling concept
• D) the performance concept
• E) the marketing concept

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade.

Radios

Devices used for the wireless transmission and reception of sound through electromagnetic waves.

Televisions

Electronic devices designed for the reception and display of audiovisual content through terrestrial, satellite, cable, or internet sources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to specialized trade benefits.