In a Market System, Self-Interest Is the Motivating Force That

question 237

Multiple Choice

In a market system, self-interest is the motivating force that

• A) makes individuals unwilling to deliver anything of value to others.
• B) makes owners of resources always want to use their resources themselves.
• C) leads the economy to chaos and confusion, especially the larger economies.
• D) coordinates and creates consistency in the operations of various parts of the economy.

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Definitions:

Repeat Customers

Individuals who repeatedly purchase goods or services from the same business or brand.

Loyalty Programs

Marketing strategies designed to encourage customers to continue to shop at or use the services of a business associated with the program.

Customer-facing CRM

Aspects of Customer Relationship Management systems that directly interact with customers, such as sales force automation, customer service, and marketing automation.

Self-serve

A service model that allows customers to serve themselves, often leading to faster service and reduced labor costs for businesses.