In Which Kind of Market Would a Production Orientation Be

question 74

Multiple Choice

In which kind of market would a production orientation be most successful?

• A) a buyer's market in which supply exceeds demand
• B) a market in which there are more sellers than buyers
• C) a seller's market in which demand is greater than supply
• D) a market that sells only intangible products
• E) an e-commerce market

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Definitions:

Direct Material

Raw input directly utilized in the creation of a product, essential for the product’s production process.

Direct Labor

The wages and other compensation paid to employees directly involved in producing goods or providing services.

Overhead

General business expenses not directly attributed to creating a product or service.

Incremental Revenue

The additional revenue generated from a specific action or decision, beyond what would have been generated without it.