With the Onset of the Industrial Revolution in the Middle

question 50

Multiple Choice

With the onset of the Industrial Revolution in the middle of the eighteenth century, what economic justification of salespeople gained momentum?

• A) to make local economies more self-sufficient
• B) to reach new customers in geographically dispersed markets
• C) to facilitate growth in specialized markets
• D) to provide employment for displaced farm workers

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Definitions:

Metering Strategy

A pricing strategy used by firms to charge consumers for the actual use of a service or product.

Profit Margins

The ratio or percentage of profit generated from sales after deducting costs, indicating the financial health and efficiency of a business.

Robinson-Patman Act

A United States federal law that aims to prevent anticompetitive practices by producers, specifically price discrimination.

Volume Discounts

Reduced prices offered to customers who purchase in large quantities, incentivizing bulk buying.