The 19^th Century,the Belief Was That Production Creates Its Own

question 158

Multiple Choice

the 19^th century,the belief was that production creates its own demand.By the early 20^th century,American companies began to produce more goods than buyers could consume.At the same time,competition became more significant.The usual solution was to hire more salespeople to find new buyers.This describes the __________ era.

• A) goods
• B) production
• C) sales
• D) marketing concept
• E) market orientation

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Definitions:

Judgment

The ability to make considered decisions or come to sensible conclusions based on a critical assessment of evidence and reasoning.

Satisficing Heuristic

A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution.

Error

A mistake in action, calculation, opinion, or judgment caused by poor reasoning, carelessness, or insufficient knowledge.

Judgment

The ability to make considered decisions or come to sensible conclusions based on a comprehensive analysis of available information.