A Statement of an Organization's Purpose and Operating Philosophy Is

question 17

Multiple Choice

A statement of an organization's purpose and operating philosophy is called a

• A) corporate plan.
• B) marketing objective.
• C) marketing plan.
• D) marketing statement.
• E) mission statement.

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Definitions:

Marginal Benefit

The additional satisfaction or utility a consumer receives from consuming an additional unit of a good or service.

Marginal Cost

The financial outlay for making one more unit of a product or service.

Pollution Abatement

Measures and activities undertaken to reduce, control, or eliminate pollution from various sources in order to protect the environment.

Marginal Utility

The further gratification or value experienced by an individual upon consuming an extra unit of a particular good or service.