Taking Steps to Determine That a Potential Customer Has the Need

question 127

True/False

Taking steps to determine that a potential customer has the need, financial capability, and authority to make a purchase is called canvassing.

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Definitions:

Redistributing Income

The process of realigning the distribution of wealth or income in a society, often through taxation and government spending aimed at reducing inequalities.

Society's Total Utility

The cumulative measure of satisfaction or happiness that a society derives from consuming a particular amount of goods and services.

Diminishing Marginal Utility

A principle stating that as a consumer consumes more of a good or service, the satisfaction (utility) gained from each additional unit decreases.

Universal Basic Income

A financial program where a government provides all citizens with a regular, unconditional sum of money, regardless of employment status or wealth.