The View That Holds an Organization Should Satisfy the Needs

question 19

Multiple Choice

The view that holds an organization should satisfy the needs of consumers in a way that also provides for society's well-being is known as

• A) the societal marketing concept.
• B) the marketing concept.
• C) consumerism.
• D) social responsibility.
• E) capitalism.

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Definitions:

Supply Curve

A graph showing the relationship between the price of a good and the quantity supplied, with a positive slope indicating that higher prices will lead to higher quantities supplied.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to market stability.

Tax Levied

An amount charged by the government on products, income, or activity, required to be paid by individuals or corporations to finance government activities.

Government Subsidy

A financial contribution by a government to a private sector entity for the purpose of lowering the cost of a service or product or supporting a particular activity deemed beneficial.