- Refer to Figure 31

question 9

Multiple Choice

- Refer to Figure 31.2.What is the competitive level of wages and employment?

• A)$11 per hour and 50 workers.
• B)$9 per hour and 40 workers.
• C)$7 per hour and 50 workers.

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Definitions:

Entrepreneurial Marketing

A set of processes adopted by entrepreneurs based on new and unconventional marketing practices in order to gain traction in competitive markets.

Traditional Marketing

Marketing practices that use traditional channels such as print ads, billboards, television, and radio to communicate with the target audience.

4 Ps

A marketing model that identifies and optimizes the four key components of marketing strategies: Product, Price, Place, and Promotion.

Business Exists

The state or condition of being actively engaged in a trade or enterprise, often marked by the pursuit of profit.