A Farmhand Would Like to Buy a Moped Scooter to Commute

question 130

Multiple Choice

A farmhand would like to buy a moped scooter to commute to his job at a nearby ranch. He doesn't know how to find a dealer though, and doesn't have Internet access. Which of the following reasons explain why marketing fails to occur here?

• A)There are not two or more parties with unsatisfied needs.
• B)A desire to satisfy a need is missing.
• C)No assessments of consumer wants and needs have been made.
• D)There is no way for the parties involved to communicate.
• E)The ability to satisfy a need is missing.

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Definitions:

Shortage/Surplus

A market condition where the quantity of a good supplied is not equal to the quantity demanded, with a shortage being a deficit and a surplus being an excess.

Minimum Wage

The lowest legal hourly pay rate that employers can pay to workers.

Recession

A phase of brief economic downturn marked by a decrease in business and manufacturing activities, typically recognized when there's a drop in Gross Domestic Product (GDP) for two consecutive quarters.

Price Ceiling

A government-imposed limit on how high a price can be charged on a product, intended to protect consumers from high prices, but can lead to shortages.