The American Red Cross Uses Marketing to Improve Communications to Better

question 71

Multiple Choice

The American Red Cross uses marketing to improve communications to better serve those in need.As a service, it can be classified as being delivered by

• A)a nonprofit organization.
• B)only people.
• C)only equipment.
• D)a business firm.
• E)a governmental agency.

---

Definitions:

Pareto Efficient

An allocation pattern of resources where attempts to advantage any individual or criterion will inevitably lead to the detriment of another individual or criterion.

Public Good

A type of good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use, and where use by one individual does not reduce availability to others.

Private Good

A type of good that is both excludable and rivalrous, meaning that non-paying consumers can be prevented from accessing it and its consumption by one individual prevents others from using it.

Utility Function

A mathematical representation in economics that captures the preference orderings of various bundles of goods for an individual or entity.