According to Drucker, the Purpose of a Business Is to First

question 17

True/False

According to Drucker, the purpose of a business is to first create customers and then create value for these customers.

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Definitions:

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a specific price.

Price

The amount of money expected, required, or given in exchange for an item or service in a market.

Normal Good

A good for which demand increases as the income of consumers increases, and vice versa.

Income

Revenue generated on a regular basis from labor or investments.