In a Market System, the Primary Instruments Used to Coordinate

question 175

Multiple Choice

In a market system, the primary instruments used to coordinate economic activity are

• A)plans.
• B)prices.
• C)input-output analyses.
• D)quantities.

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Definitions:

Marketing Concept

A philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

Think Global

A business approach that considers the international implications of corporate decisions and strategies.

Consumer Wants

The desires or needs that drive individuals to purchase products or services.

Consumer Needs

The desires or necessities that consumers seek to fulfill with products or services.