The Idea That Wants Are Virtually Unlimited but the Resources

question 211

Multiple Choice

The idea that wants are virtually unlimited but the resources to meet those wants are limited is called

• A) the want-resource paradox.
• B) the economic gap.
• C) the dismal conclusion.
• D) scarcity.

Recognize the importance of designing ethical programs that avoid overly legalistic language to facilitate better understanding and compliance among employees.

Describe the role of environmental and biological factors in human development (Nature vs. Nurture debate).

Identify and understand the concept of teratogens and their effects on prenatal development.

Comprehend the importance of social environments and life themes in adult development.

---

Definitions:

Price

The amount of money required to purchase a good or service.

Marketing Mix

The mix of elements a company can manipulate to encourage consumer buying of its goods, usually comprised of product, price, place, and promotion.

Marketing Exchanges

Transactions in which values are exchanged between a buyer and a seller, typically involving products, services, and/or information.

B2B

Business-to-Business, a type of commercial transaction between businesses, such as one involving a manufacturer and wholesaler or a wholesaler and retailer.