Which of the Following Illustrates the Marketing Concept in Action

question 297

Multiple Choice

Which of the following illustrates the marketing concept in action?

• A) A young lawyer gives free legal advice to poor people.
• B) A local police department organizes a "community crime watch" program in a neighborhood that has had many burglaries.
• C) Several lawyers set up a group practice-so that the costs of the office and equipment can be shared.
• D) None of these illustrate the marketing concept in action.

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Definitions:

Fixed Overhead Budget Variance

The difference between the actual fixed overhead costs incurred and the budgeted or standard fixed overhead costs.

Direct Labor-hours

The complete total of working hours by individuals directly involved in the fabrication process.

Fixed Overhead

Costs that do not vary with the level of production or sales, including rent, salaries, and insurance, which are incurred regardless of the business activity level.

Work In Process

Goods that are in various stages of the production process but are not yet completed products.