Fast Food, Inc

question 152

True/False

Fast Food, Inc. views marketing as the process of finding and retaining profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing.

---

Definitions:

Efficient Level

The optimal point at which a particular activity achieves the best output or outcome with the least waste of resources or effort.

Marginal Social Cost

The total cost to society of producing an additional unit of a good, including both private costs and any externalities.

External Cost

Costs of a transaction that affect people other than the buyer or seller, often not included in the price of goods or services.

Efficient Amount

The level of production or quantity of a good that optimizes the use of resources to achieve the highest possible satisfaction or benefits.