In the United States, the Basic Objective of Our Market-Directed

question 146

True/False

In the United States, the basic objective of our market-directed economic system has been to satisfy consumer needs as they, the consumers, see them.

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Definitions:

FOB Destination

A shipping term indicating that the seller owns the goods in transit and is responsible for freight charges and any damage until the goods are delivered to the buyer’s location.

Freight Costs

Expenses associated with transporting goods between the vendor and the buyer, which may be borne by either party.

Sales Discount

A reduction from the usual cost of a product or service offered to customers to encourage prompt payment or increase sales.

Customers Pay

refers to the transactions where customers remit payment for goods or services received from a business.