Culture Refers to the Set of Values,ideas,and Attitudes That Are

question 170

Multiple Choice

Culture refers to the set of values,ideas,and attitudes that are learned and shared among members of a group.Culture also serves as a socializing force that dictates what is morally right and just.This means that moral standards

• A)are relative to particular societies.
• B)must be universal in order for cross-cultural marketing to be effective.
• C)are fluid and very easy to change.
• D)are cyclical so it is important to change with the times.
• E)are concrete;something is either right or wrong.

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Definitions:

Price Searcher

A firm that determines the price of its products with some degree of market power, usually by differentiating its products from those of competitors.

Marginal Revenue

Incremental income earned by selling an additional unit of a good or service.

Marginal Cost

The rise in expenses associated with the production of an extra unit of a product or service.

Price-searcher Firm

A company that determines the price of its products based on demand and supply conditions rather than prevailing market prices.