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Will the study and practice of marketing become useless when customers meet their needs and wants?
is the study and practice of marketing useless
Why are products innovated?
Products are innovated for different purposes such as meet the needs and wants of the customers and for retain the market share.
What is market oriented firm?
A real market oriented firm will be able to meet the wants and the needs of its clients by all means.
What are the objectives of asda plc?
provides goods and service to their customers and meet all customer needs/wants. remember customers are time value to the company.
Does marketing creates needs and wants or needs and wants creates marketing?
In ideal situations, needs should create marketing. The best value comes when a marketing department identifies various needs and develops products that are going to meet those needs at a profit.
What are limited quantities of resources to meet unlimited wants?
Scarcity
What issue results from the combination of limited resources and unlimited wants?
The economic concept of Scarcity is where humans have unlimited needs and wants, but the world has limited resources to meet all those demands.
What are recurring wants?
It is a basic problem of economics: There are limited economic resources (land, raw material, labour, capital and intellect.) to meet with unlimited and recurring wants. We have to make choice between available aternate resources to meet with these recurring wants.
Is it true scarcity exists because there are limited resources to meet unlimited wants and needs?
Scarcity is the result of limited resources being available to satisfy the wants and needs of citizens. It is important for people to buy and store resources in bulk to prevent scarcity.
How should 'economics' be defined?
Economics is the social science concerned with the production, distribution, and consumption of wealth and the allocation of scarce resources in order to meet apparently unlimited human wants.
Economics define as limited quantities to meet unlimited wants?
Scarcity
What is the study of how people meet their needs and wants?
Economics
In economics the word scarcity relates to what?
In economics, scarcity refers to the fundamental problem of having limited resources to meet unlimited human wants and needs. It highlights the imbalance between finite resources, such as time, money, and materials, and the infinite nature of desires for goods and services. This concept necessitates choices and trade-offs, as individuals and societies must prioritize certain needs and wants over others. Scarcity drives the study of how resources are allocated and managed within economies.
Shortages exist because there are limited resource to meet unlimited wants and needs true or false?
false
What is the study of how people use resources to meet their needs?
ECONOMICS
The study of how people use resources to meet their needs is?
Economics
Why is the study of economics important?
The study of economics is important because without it we would not be able to understand the impact of the developments in business, society, and the world economy. It also allows us to comprehend the decisions of households, firms, and government based on human behavior, beliefs, structure, constraints, and needs. The study of economics is important in the sense that it teaches us how to make rational use of our scarce resources in order to meet our unlimited wants.
