One-To-One Marketing Refers to Developing a Unique Mix of Goods

question 31

True/False

One-to-one marketing refers to developing a unique mix of goods and services for each individual customer.

---

Definitions:

Specialization and Trade

An economic concept where individuals or entities focus on the production of specific goods or services to trade for other goods or services, enhancing efficiency and productivity.

Efficient Scale

The level of production at which a firm achieves the lowest long-run average cost, with all inputs utilized most effectively.

Surplus

A situation where the quantity supplied of a good or service exceeds the quantity demanded at the current price, often leading to a decrease in prices.

Balance of Trade

The difference in value between a country's imports and exports over a certain period.