What Type of Orientation Does a Firm Have If It

question 42

Multiple Choice

What type of orientation does a firm have if it doesn't take into consideration the needs of the marketplace?

• A)customer
• B)product
• C)market
• D)production

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Definitions:

Income Elasticity

A measure that shows how a change in income affects the demand for a good or service.

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Plasma Screen

A type of display technology used in televisions and computer monitors, known for its bright, clear images and wide viewing angles.

Higher Education

This term refers to education beyond high school level, usually provided by universities and colleges, leading to degrees or certificates.