Which Statement Best Describes Personal Selling

question 126

Multiple Choice

Which statement best describes personal selling?

• A)It involves a larger audience than advertising.
• B)It is primarily indirect communication.
• C)It is primarily informational communication, not persuasive communication.
• D)It is the two-way flow of communication between a buyer and a seller.
• E)It involves encoding while advertising involves only decoding.

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Definitions:

Monopolist

A solo seller in a market who has significant control over the pricing and availability of a unique product or service.

Profit-Maximizes

The method or approach of modifying production and pricing to secure the maximum achievable profit.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, protecting existing firms from new entrants.

Scarce Resource

A resource with limited availability in comparison to the desired use which exceeds its supply in an economic environment.