MP Final Exam

Front

What is marketing?

Back

the creation and maintenance of satisfying exchange relationships

Front

How many functions of marketing are there?

Back

9

Front

Which does NOT belong in the marketing functions? financing, security, distribution, planning

Back

security

Front

Which best describes risk management?

Back

providing security as well as reducing the risks associated with the market

Front

What does being self-sufficient mean?

Back

you do not rely on others for things you need to survive

Front

Exchanging products or services with others by agreeing on their values is known as

Back

bartering

Front

Specialization of labor is known as...

Back

concentrating on one thing or a few related activities

Front

Which does NOT belong in the functions of business? marketing, production, operations, materials

Back

materials

Front

What is international trade?

Back

the exchange of products and services with people in other countries

Front

How do individuals benefit from marketing?

Back

because it improves the exchanges that occur between businesses and consumers