When a telemarketer calls you about a product, this is an example of
A) direct marketing.
B) indirect marketing.
C) searching for a good.
D) persuasive marketing.
A
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Which of the following is true?
i. In an unregulated market with an external benefit, consumers don't take it into account and consume less than the efficient quantity. ii. Marginal social cost equals marginal private cost minus marginal external cost. iii. An unregulated market produces more than the efficient quantity of a good with an external cost. A) Only i B) Only ii C) Only iii D) i and ii E) i and iii
The vertical distance between a firm's total cost curve and its total variable cost curve
a. is zero b. is negative when the firm incurs fixed costs in the short run c. represents total fixed costs d. represents marginal costs e. represents average fixed costs
The CPI is a useful index for all of the following reasons except
A. it is used to determine whether people's incomes are keeping up with the costs of the things they buy. B. it is used to measure changes in the cost of living. C. it used to measure the average price level of all final goods and services produced. D. it is used to compute the U.S. inflation rate.
Understanding the supply and demand model facilitates
A) greed. B) charity. C) happiness. D) prediction.