Which Era of Business History Does the Following Statement Best

question 46

Multiple Choice

Which era of business history does the following statement best describe? "We are in the business of satisfying needs and wants of consumers."

• A)the production era
• B)the sales era
• C)the marketing concept era
• D)the marketing orientation era

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Definitions:

Consideration

Something of value that is exchanged between parties in a contract, a critical element for the contract to be legally binding.

Implied Warranties

Guarantees that are not written down or explicitly stated but are understood to exist in a transaction, providing assurance that a product or service will meet certain standards.

Assignor

The party in a contract who transfers their rights or interests to another party, known as the assignee.

Assignee

An individual or entity to whom rights or obligations are transferred from another party.