A Typical Economic Good Has Which One of the Following

question 73

Multiple Choice

A typical economic good has which one of the following characteristics?

• A) The desired quantity exceeds the quantity available at a zero price.
• B) The quantity available exceeds the desired quantity at a zero price.
• C) It uses no resources to produce.
• D) It is never scarce.

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Definitions:

Marketing Resources

Various assets such as time, money, and human skills that a company allocates towards its marketing efforts.

Maximizes Profit

The strategic effort made by businesses to increase the difference between their revenues and expenses.

Ethical Concerns

Issues or situations that require individuals or organizations to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Target Marketing Strategy

A marketing approach focused on identifying and addressing a specific segment of the market that is most likely to purchase a company's products or services.