Which of the Following Best Explains Why Consumers Have Greater

question 128

Multiple Choice

Which of the following best explains why consumers have greater power and control in today's marketplace?

• A) The production concept and competition have lowered prices.
• B) Implementation of the product concept has resulted in continually improving products.
• C) Customer-driven marketing creates products and services that meet customers' future needs.
• D) More companies are implementing societal marketing and weighing long-term costs and benefits.
• E) Through new communication technologies, customers have more access to information and more methods of sharing their opinions with other customers.

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Definitions:

Q Falls

Indicates a decrease in the quantity demanded or supplied of a good or service, often in response to changes in price, income, or other factors.

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period.

Stock of Money

The total quantity of money available within an economy at a specific time, including cash, bank deposits, and liquid financial instruments.

Velocity of Circulation

The rate at which money is exchanged from one transaction to another, and how much a unit of currency is used in a given period.