Figure 4-20 -Refer to Figure 4-20.If the Price Is $10,then There Would

question 29

Multiple Choice

Figure 4-20
-Refer to Figure 4-20.If the price is $10,then there would be a

• A)shortage of 400 units,and price would rise.
• B)surplus of 400 units,and price would rise.
• C)shortage of 600 units,and price would rise.
• D)surplus of 600 units,and price would rise.

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Definitions:

Sales-oriented Era

A period in marketing history characterized by a focus on sales techniques and increasing the volume of products sold, with less emphasis on the needs and wants of the consumers.

Market-oriented Era

A period in business philosophy where companies prioritize identifying and meeting the needs and desires of customers as the central focus of their operations.

Value-based Marketing

A marketing strategy focused on providing products or services that deliver high value to consumers, emphasizing quality and benefits over cost.

Economics-oriented Era

A period in history where the focus was primarily on economic factors, such as productivity and cost efficiency, in business decisions.