Better Performance of Our Market-Directed Macro-Marketing System May Require

question 140

Multiple Choice

Better performance of our market-directed macro-marketing system may require

• A)newer and tougher laws,because the present laws don't do enough to protect competing firms from each other.
• B)more consumer responsibility.
• C)less emphasis on consumer privacy.
• D)less business responsibility-because consumers already determine whether a firm will succeed or fail.
• E)None of these answers is correct.

---

Definitions:

Satisfaction

The fulfillment of one's wishes, expectations, or needs, or the pleasure derived from this fulfillment.

Consumer

A person or collective who buys products or services for their own consumption.

Diminishing Marginal Utility

The principle that as a person consumes more of a product, there is a decline in the additional satisfaction or utility that person derives from consuming one more unit of the product.

Total Utility

The total satisfaction received by a consumer from consuming a particular quantity of goods or services.