The Idea That the Desires of Resource Suppliers and Producers

question 119

Multiple Choice

The idea that the desires of resource suppliers and producers to further their own self-interest will automatically further the public interest is known as:

• A)consumer sovereignty.
• B)the invisible hand.
• C)derived demand.
• D)profit maximization.

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Definitions:

Order Getter

Sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service.

Conventional Sense

In the most widely accepted or traditional meaning of a word or concept.

Prospective Customers

Individuals or organizations potentially interested in purchasing a company's products or services but have not yet done so.

Sales Engineer

A professional who combines technical knowledge with sales skills to provide advice and support on a range of products or services.