Self-Interest

question 194

Multiple Choice

Self-interest

• A)has nothing to do with determining what goods are produced.
• B)occurs only when wants exceed available resources.
• C)cannot be used to determine how goods are produced.
• D)reflects choices that are best for society as a whole.
• E)reflects choices that are best for the individual who makes them.

---

Definitions:

Marketing Mix

A blend of several marketing elements—including product, price, place, and promotion—used to market and sell a product effectively.

Value

The importance, worth, or usefulness of something to someone.

Supply Chain Relationships

The interactions and partnerships between all participants involved in the flow of goods and services from the original producer to the end consumer, including suppliers, manufacturers, and retailers.

Profitability

A financial performance measure indicating the degree to which a company or business makes more money than it spends.