If We Accept "Consumer Satisfaction" as the Objective of Our

question 189

Multiple Choice

If we accept "consumer satisfaction" as the objective of our MACRO-marketing system, this means that:

• A) each consumer should decide how best to satisfy his or her own wants.
• B) government planners should choose the kinds of products to be produced.
• C) "home economists" will be the best judges of what should be produced.
• D) not every consumer should be allowed to decide his or her own wants.
• E) consumer educators should choose what products should be produced.

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Definitions:

SEC

The U.S. Securities and Exchange Commission, a federal agency responsible for regulating the securities industry and enforcing federal securities laws.

Performance Report

A report detailing the comparison between budgeted figures and actual figures, used to assess an organization's financial and operational performance.

Conversion Cost

The sum of labor and overhead expenses required to convert raw materials into finished goods.

Direct Materials

Raw materials that can be directly traced to the production of a specific product and are a direct cost in the manufacturing process.