Marketing 3-1 Notes

Choose the one that is not a factor of production.

The political system of North Korea

Subsistence farming. Using what you produce.

Industries that are owned and controlled by government.

Incapable of being perceived by the sense of touch.

The organized way a nation provides for the needs and wants of it citizens

The public sector is the part of the economy controlled by the government.

Which of the four P's is this?

Defined as deciding how to get goods into the hands of consumers.

The economy of most countries in the world.

Investment in labor has a high rate of return.

The Rocky Mountains with ski resorts would be an example of land as a factor of production.

Activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings

Brilyn should always consult Mr. Griswold before buying shoes.

Includes money, infrastructure and office buildings.

Industries that are owned by individuals that make decisions to maximize profit.

The difference between wants and needs and available resources.

No government involvement in economic decisions.

The private sector includes jobs such as a police officer.

The political philosophy of the United States.

Capable of being touched. Material

Which of the four P's is this?

Which of the four P's of marketing is this?

The group that is identified for a specific marketing program.

The skills of people that are willing to invest their time and money to run a business.

Which of the four P's is this?

A system where a country's government makes all economic decisions.

Defined as adding value in economic terms.

Raw materials in a more valuable form such as lumber would be considered as Labor.

The political philosophy of Sweden.