Kevin's Company Owns a Factory That Can Produce 1,000 Widgets

question 78

Multiple Choice

Kevin's company owns a factory that can produce 1,000 widgets per week.His primary focus is on getting consumers to purchase as many widgets as possible to ensure that he is maximizing his sales relative to his production capacity.Kevin's business is exhibiting the ________.

• A) marketing concept
• B) product orientation
• C) not-for-profit orientation
• D) sales orientation
• E) market orientation

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Definitions:

Output

The quantity of goods or services produced in a given period by an individual, firm, or country.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other factors constant.

Marginal Product

The additional output gained from employing an extra unit of input in the production process.

Produce

To create, manufacture, or cultivate goods, especially agricultural products, for consumption or use.