Factors Are Required for Marketing to Occur: (1)two or More

question 259

Multiple Choice

factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) __________; and (4) something to exchange.

• A) a way for the parties to communicate
• B) a healthy competitive environment
• C) government approval
• D) a sense of social responsibility
• E) an ability to see hidden potential within an environmental force

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Definitions:

Price Support

Government interventions or policies that set a minimum price for a product, typically agricultural, to ensure farmers' incomes are protected against price fluctuations.

Parity Ratio

A measure used in agriculture to compare the relative values of a set of farm products over different years adjusted for inflation.

Prices Received

The amount of money received by producers or sellers in exchange for goods or services in the market.

Prices Paid

Refers to the amount of money expended by a buyer to acquire goods or services.