Is it possible to add up the preferences of all consumers in an entire nation?
What will be an ideal response?
No. It is impossible to make interpersonal comparisons of satisfaction, and thus it is not possible to add up preferences.
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The leverage point is the:
A) key idea or ideas that an advertisement is to convey B) key element in an advertisement that taps into or activates a consumer's personal value system C) design of the advertisement that attracts attention or presents information D) theme that explains how the message will be delivered
Suppose a bank has $200 million as transaction deposits, and holds $25 million as reserves. If the reserve requirement is uniformly 10% on any positive amount, the bank's excess reserves equals
A. $25 million. B. $10 million. C. $5 million. D. $1 million.
Customer value refers to
A. the need of a customer to receive the highest quality product at the lowest possible price. B. the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. C. a statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers. D. the least expensive product that will provide it with most of the basic benefits. E. the cluster of benefits that an organization promises customers to satisfy their needs.
Which of the following was the standard used by the traditional common law to determine whether a contract has been breached?
A) substantial performance B) perfect tender rule C) complete performance D) partial rule