What is the meaning of the term "consumerism"?
A) overspending by customers
B) overspending by corporations
C) pressuring businesses to consider consumer needs
D) pressuring consumers to consider business needs
E) unexpected demand by buyers
Answer: C
Explanation: Consumerism is a movement that puts pressure on businesses to consider consumer needs and interests.
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A small firm is likely to benefit significantly from strategic planning
A. regardless of the nature of its industry or market. B. when it is in a very competitive industry. C. when it is in a very new industry. D. when it is in a very stable industry. E. when it has a very small market.
Cook, Inc, a manufacturer of tires, has given you its most recent annual report in an effort to obtain a sizable loan. The company is very profitable and appears to have a sound financial position. Based on a report presented on prime-time television last night, you are aware that Cook is a defendant in several lawsuits related to its defective tires that cause vehicles to overturn. The
information presented on television is an example of financial information that is a. Relevant b. Consistent c. Predictable d. Comparable
Under international law, in order to be considered a custom, a practice must be followed
because of legal obligation. Indicate whether the statement is true or false
Appraisal costs are ______.
a. the costs of measuring and inspecting products and services b. the costs of managing product returns c. the liability costs of product defects d. the costs of training employees in quality