Which of the Following Terms Describes the Situation in Which

question 6

Multiple Choice

Which of the following terms describes the situation in which too few or too many resources go to a specific economic activity because of external benefits or costs?

• A) an technologically inefficient market
• B) a market failure
• C) a laissez-faire market
• D) an external market

Grasp the purpose, methods, and effects of missionary selling and how it promotes goodwill and provides assistance.

Identify the significance and methodology of identifying potential customers as a sales process's initial step.

Comprehend the role and examples of publicity campaigns in promotional activities.

Differentiate between public relations and paid communications within an organization's promotional strategy.

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Definitions:

Free Rider

A person who enjoys the advantages of goods, services, or resources without bearing the expenses associated with them.

Public Good

A product or service that is made available to all members of a society, characterized by being non-excludable and non-rivalrous in consumption.

FM Radio Station

A broadcast station that uses frequency modulation to provide radio programming to the public within a certain geographic area.

Excludable

A feature of a product or service that enables the owner to restrict its use by others without obtaining consent.