An Effort by Government Agencies to Control the Choices of Private

question 58

Multiple Choice

An effort by government agencies to control the choices of private firms or individuals is:

• A) regulation.
• B) market failure.
• C) antitrust.
• D) barriers to entry.

Understand the concept and implications of globalization in economic, cultural, political, and technological contexts.

Recognize the roles and impacts of tariffs, quotas, and protectionist measures on global trade and national economies.

Identify the effects of trade measures on the price of domestic goods and the global economy.

Understand the influence of global marketing developments on international trade.

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Definitions:

Evaluating

The process of making judgments about the value, performance, or quality of a product, service, or outcome.

Personal Selling Process

The series of steps salespeople follow when selling a product or service, including prospecting, approaching, presenting, handling objections, closing, and follow-up.

Preapproach

In the personal selling process, occurs prior to meeting the customer for the first time and extends the qualification of leads procedure; in this step, the salesperson conducts additional research and develops plans for meeting with the customer.

Optimist

An individual who habitually looks on the more favorable side of events or conditions and expects the most favorable outcome.