The Management Concept of Customer Orientation Causes a Company to Spend

question 100

True/False

The management concept of customer orientation causes a company to spend large amounts on advertising to convince customers to buy the company's standard products.

---

Definitions:

Equilibrium Price

The cost at which the amount of a product consumers want to buy matches the amount producers are willing to sell, leading to a balanced market situation.

Price Ceilings

A government-imposed limit on how high a price is charged for a product.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.

Demand To Supply

This term reflects the relationship and balance between consumer demand for goods and services and the supply provided by producers.