________ Refers to the Face-To-Face Presentation and Promotion of Goods

question 56

Multiple Choice

________ refers to the face-to-face presentation and promotion of goods and services. This also includes searching for prospects and providing follow-up services.

• A) Word-of-mouth promotion
• B) Personal selling
• C) Public relations
• D) Internal marketing

---

Definitions:

Producer Surplus

The profit producers make over and above the minimum amount they would be willing to accept for selling their goods or services.

Equilibrium Quantity

The quantity of goods or services supplied is exactly equal to the quantity demanded at the market price.

Equilibrium Price

The cost where the supply of goods meets the demand for those goods.

Tax Revenues

The funds collected by governments through the process of levying taxes.