Something That Must Be Supplied by the Government Because the Marketplace

question 77

Multiple Choice

Something that must be supplied by the government because the marketplace cannot provide it is called

• A)a public good.
• B)a commodity.
• C)a governmental appropriation.
• D)pork.

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Definitions:

Automobile Manufacturer

A company that designs, produces, and sells motor vehicles to the public.

Warranties

Guarantees issued by a manufacturer or seller to a consumer, promising repair or replacement of a product within a specified period.

Positioning

Form of promotion in which marketers attempt to establish the identity and value of their products in the minds of customers by communicating to buyers meaningful distinctions about the attributes, price, quality, or use of a good or service.

Promotion

Function of informing, persuading, and influencing a purchase decision.