Should the objective of our economy be maximum efficiency? If your answer is yes, efficiency in what? If not, what should the objective be?
Answer to relevant QuestionsWould the functions that must be provided and the development of wholesaling and retailing systems be any different in a command economy from those in a market directed economy? Give an example of a recent purchase you made where the purchase wasn’t just a single transaction but rather part of an ongoing relationship with the seller. Discuss what the seller has done (or could do better) to ...Distinguish between how economic decisions are made in a command economy and how they are made in a market directed economy. Provide a specific illustration of why marketing strategy planning is important for all businesspeople, not just for those in the marketing department. Discuss the conflict of interests among production, finance, accounting, and marketing executives. How does this conflict affect the operation of an individual firm? The economic system? Why does this conflict exist?
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