The Primary Function of Marketing Is To

question 30

Multiple Choice

The primary function of marketing is to:

• A) facilitate exchanges.
• B) create needs.
• C) dispose of goods/services.
• D) maximize first-time sales.
• E) maximize consumption.

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Definitions:

Excess Demand

Occurs when the quantity demanded of a good or service exceeds the quantity supplied at a given price, leading to shortages.

Nonprice Rationing

Distribution or allocation of goods and services based on criteria other than price, often used when there is a shortage.

Excess Demand

A situation in which the quantity demanded of a good or service exceeds the quantity supplied at a given price.

Queuing

The process of forming or waiting in a line, often applied to the theory studying the behavior of lines to improve service efficiency.