When Allocating Resources Using Market Price

question 137

Multiple Choice

When allocating resources using market price,

• A) everyone who wants a good gets one.
• B) everyone who is willing to pay for a good gets one.
• C) everyone who is able to pay for a good gets one.
• D) everyone who is willing and able to pay for a good gets one.

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Definitions:

Potential Trends

Emerging or possible directions in which a given market, technology, or behavior might develop in the future.

Social Forces

The societal factors that influence and shape individuals' behaviors, beliefs, and attitudes, including culture, norms, and social structures.

Marketing Strategy

A long-term plan designed to promote products or services and achieve specific marketing objectives by understanding customer needs and creating a sustainable competitive advantage.

Environmental Force

External factors, such as social, economic, technological, competitive, and regulatory conditions, that influence an organization’s operations and outcomes.