The Provision Ogoods and Services to Meebiological and Social Wants

question 23

Multiple Choice

The provision ogoods and services to meebiological and social wants is called

• A)production.
• B)the economic system.
• C)market exchange.
• D)the unit of production.

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Definitions:

Increased Sales

An upward trend in the quantity of products or services sold, indicating growth in revenue for a business.

Business Firm

An organization engaged in commercial, industrial, or professional activities with the aim of generating profits.

Market Segmentation

The practice of dividing a target market into distinct groups of consumers with similar needs or characteristics for more effective marketing.

Geographic Segmentation

The process of dividing a market into segments based on the geographic locations of consumers, such as countries, states, or cities.