The Economic Doctrine That Believes the Best Way to Maximize

question 34

Multiple Choice

The economic doctrine that believes the best way to maximize wealth and reduce vulnerability is to actively encourage exports while discouraging imports is known as

• A) market-based policy.
• B) mercantilism.
• C) monetary policy.
• D) liberalism.

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Definitions:

Complex Purchase

Purchasing decisions that involve extensive research and consideration due to factors like high cost, long-term commitments, or personal importance.

Sales Promotion

A set of nonpersonal communication tools designed to stimulate quicker and more frequent purchases of a product.

Personal Selling

The two-way flow of communication between a salesperson and a customer that is paid for by the firm and seeks to influence the customer’s purchase decision.

Summary Close

A sales technique where the main points of the presentation are summarized to reinforce the value of the offer and encourage a decision.