Examlex

Solved

Explain the Differences Among a Product-Oriented Firm, a Production-Oriented Firm

question 51

Essay

Explain the differences among a product-oriented firm, a production-oriented firm, and a marketing-oriented firm and the role business research plays in each.


Definitions:

Obtain Property

The act of gaining possession or control over property through legal means or transactions.

Agency Relationship

A legal arrangement where one party, the agent, is authorized to act on behalf of another, the principal, in business dealings or other matters.

Authorized Act

An action taken by an individual or entity that is legally permitted under the law or by a governing body.

Principal

In a legal context, the main party who authorizes another (the agent) to act on their behalf in transactions or other legal matters.

Related Questions