Which of the Following Best Characterizes the Forces of the Marketing

question 7

Multiple Choice

Which of the following best characterizes the forces of the marketing environment?

• A)The forces are relatively stable over time and are interrelated with one another.
• B)There are few overlapping aspects of these forces; therefore, a change in one is unlikely to result in a change in another.
• C)The various forces ensure that the marketing environment will remain fairly certain in the future.
• D)These forces change dramatically over time, but a change in one force is unlikely to impact another force.
• E)The forces change dramatically and quickly, and a change in one force is likely to affect the other forces.

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Definitions:

Economic Rents

Economic rents refer to the excess payment made to a factor of production over what is needed to bring that factor into its current use.

Natural Gas Extraction

The process of exploring, drilling, and producing natural gas from underground reservoirs.

Imperfectly Elastic

Describes a demand curve that does react to price changes, but not in a perfect one-to-one relationship, indicating some sensitivity to price changes but not to an infinite degree.

Substitute

A good or service that can be used in place of another to satisfy similar needs or desires.