With Respect to the History of American Business, Today's Firms

question 40

Multiple Choice

With respect to the history of American business, today's firms operate in the ________ era as they must continuously seek to satisfy the high expectations of customers.

• A) production
• B) sales
• C) marketing concept
• D) customer relationship
• E) societal marketing

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Definitions:

Free World Trade

The international exchange of goods and services without restrictive tariffs, quotas, or other trade barriers.

Tariffs and Quotas

Tools used by governments in international trade policy; tariffs are taxes on imported goods, while quotas are limits on the quantity of goods that can be imported.

Agricultural Imports

Goods related to agriculture brought into a country from abroad.

Food, Conservation, and Energy Act

A comprehensive piece of legislation passed by the United States Congress to address issues related to agriculture, nutrition, conservation, and energy.