The Process a Business Uses to Satisfy Consumer Needs and Wants

question 77

Multiple Choice

The process a business uses to satisfy consumer needs and wants by providing goods and services is called ________.

• A)exchange
• B)economics
• C)marketing
• D)accounting
• E)logistics

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Definitions:

Relative Orientation

The perspective or approach taken in comparison to others or in relation to a specific context or standard.

Nondisclosing Individuals

People who prefer to keep personal information or feelings private and not share widely.

360-degree Feedback

A comprehensive feedback mechanism where employees receive confidential, anonymous feedback from the people who work around them, including peers, managers, and direct reports.

Questionnaire-based Process

A structured method of gathering information or data from individuals, typically through a series of written questions to be answered, used for research or assessment purposes.