Which of the Following Statements Is FALSE

question 371

Multiple Choice

Which of the following statements is FALSE?

• A) Marketing is most important in a pure subsistence economy.
• B) Marketing should provide direction for production, accounting, and financial activities.
• C) Marketing builds long-lasting relationships that benefit the selling firm.
• D) Marketing doesn't occur unless two or more parties are willing to exchange something for something else.
• E) Marketing anticipates customer needs.

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of all inputs, indicating a firm is not only covering its costs but earning more than the next best alternative use of its resources.

Product Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product demanded by consumers.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, allowing firms to make adjustments and the economy to achieve a steady state of operations with no tendency for change.

Product Differentiation

The process of distinguishing a product or service from others, to make it more attractive to a particular target market.