An Economic Theory

question 72

Multiple Choice

An economic theory

• A)will be useful only if all human behaviour is rational.
• B)will be useful as long as it is logically consistent.
• C)is only useful if its underlying assumptions are realistic.
• D)will predict more accurately if it contains a greater number of mathematical equations.
• E)must be judged on its ability to explain and predict real- world phenomena.

Distinguish between different marketing concepts and orientations.

Recognize the importance of efficient supply chain management.

Appreciate the role of marketing in non-profit organizations as well as for-profit organizations.

Understand the implications of internationalization on marketing.

---

Definitions:

Savings Accounts

Accounts with funds that usually cannot be withdrawn without advance notice; also known as time deposits.