After Seeing a "Sale" Ad in a Local Newspaper, Ben

question 7

Multiple Choice

After seeing a "sale" ad in a local newspaper, Ben Griffith went to a local pet supply store and bought a year's supply of high protein dog food. Which marketing functions-if any-did he perform?

• A) Financing and risk taking.
• B) Transporting and storing.
• C) Market information.
• D) Buying.
• E) Ben performed all of these marketing functions.

---

Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the actual profitability of a company beyond just its accounting profits.

Inverted-U Theory

A hypothesis suggesting that a relationship between two variables follows an upside-down U shape, often applied to the correlation between productivity and stress levels.

R&D Expenditures

Financial investments made by firms, governments, or institutions in research and development activities aimed at innovation, creating new products, or improving existing ones.

Industry Concentration

A measure of the extent to which a small number of firms dominate the total production, sales, or market share in an industry.