Front

What process involves promoting and selling products or services to fulfill customer needs or wants?

Back

Marketing

Front

What is one benefit of using a mass marketing strategy?

Back

Creates brand awareness

Front

Chen is targeting his advertising towards individuals living in urban centers. What type of market segmentation is he employing?

Back

Geography

Front

What are the four key marketing mix components that businesses use to fulfill customer needs and wants?

Back

Product, price, place, promotion

Front

What is the simplest form of business ownership where a single individual owns the business?

Back

Sole proprietorship

Front

Which business concept involves companies engaging in activities that positively impact the community?

Back

Corporate social responsibility

Front

Capital is considered a non-human factor of production that encompasses tools and equipment used in creating goods and services. True or False?

Back

True

Front

When total revenues exceed total expenses, the result is known as a ________.

Back

Profit

Front

What characterizes a private enterprise system?

Back

It allows private businesses to compete freely for profit with minimal government intervention.

Front

What is the French phrase that translates to 'let do'?

Back

Laissez-faire