Question: Discuss the merits of various economic system objectives Is the
Discuss the merits of various economic system objectives. Is the objective of the American economic system sensible? Could it achieve more consumer satisfaction if sociologists or public officials determined how to satisfy the needs of lower-income or less-educated consumers? If so, what education or income level should be required before an individual is granted free choice?
Relevant Questions1. List your activities for the first two hours after you woke up this morning. Briefly indicate how marketing affected your activities. Give examples of some of the benefits and costs that might contribute to the customer value of each of the following products: (a) A wristwatch. (b) A weight-loss diet supplement. (c) A cruise on a luxury liner. (d) A ...Explain why a small producer might want a marketing research firm to take over some of its information gathering activities. Outline a marketing strategy for each of the following new products: (a) A radically new design for a toothbrush. (b) A new fishing reel. (c) A new wonder drug. (d) A new industrial stapling machine. Should the objective of our economy be maximum efficiency? If your answer is yes, efficiency in what? If not, what should the objective be?
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