Porter Defined ________ as the Amount of Money That a Customer

question 55

Multiple Choice

Porter defined ________ as the amount of money that a customer is willing to pay for a resource, product, or service.

• A) margin
• B) profit
• C) price
• D) value

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Definitions:

Macroeconomist

An economist who specializes in macroeconomics, the branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.

Microeconomist

An economist focused on the behavior of individuals and firms in making decisions regarding the allocation of scarce resources.

Microeconomist

A specialist in microeconomics, which deals with the economic behavior of individuals, households, and firms, and how decisions are made on the allocation of resources.

Macroeconomist

An economist who specializes in macroeconomics, studying aggregated indicators and the behavior of the economy as a whole, including inflation, unemployment, and economic growth.