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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 is it called if the study of how people and government use limited resources to satisfy unlimited wants?
The study of how people and governments use limited resources to satisfy unlimited wants is called economics. It examines the choices and trade-offs that individuals and societies face in allocating resources to meet their needs and desires. Economics is divided into two main branches: microeconomics, which focuses on individual and business decisions, and macroeconomics, which looks at the economy as a whole.
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.
What the meaning of virtually unlimited resources to satisfy unlimited wants?
The phrase "virtually unlimited resources to satisfy unlimited wants" refers to an ideal economic scenario where resources are abundant enough to meet all human desires and needs without constraint. In reality, resources are limited, and this concept highlights the contrast between human aspirations and the finite nature of available resources. It underscores the challenges of resource allocation and the necessity for efficient management to address scarcity. Essentially, it emphasizes the gap between our limitless wants and the reality of resource limitations.
What is the term for having a limited quantity of resources to meet unlimited What is?
The term for having a limited quantity of resources to meet unlimited wants is "scarcity." Scarcity is a fundamental economic problem that arises because resources are finite while human desires are virtually limitless. This concept drives the need for individuals and societies to make choices about how to allocate resources effectively.
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.
What do economists define as limited quantities to meet unlimited wants?
Economists define limited quantities to meet unlimited wants as "scarcity." Scarcity refers to the fundamental economic problem where resources are insufficient to satisfy all human desires and needs. This concept drives the allocation of resources, prompting individuals and societies to make choices about how to use their finite resources effectively. As a result, scarcity influences pricing, supply, and demand in the marketplace.
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 do you call the study of how you use your resurces to meet your wants and needs?
The study of how you use your resources to meet your wants and needs is called economics. It examines how individuals, businesses, and societies allocate limited resources to maximize satisfaction and make decisions regarding production, consumption, and distribution. Economics encompasses various concepts, including supply and demand, opportunity cost, and market structures.
What is the study of how people meet their needs and wants?
Economics
