Unit 2 Chapter 5 Quiz Principles of Marketing

consumers’ willingness and ability to buy a product

• demand

• monopoly

• supply

• business risk

sole control over a product or the means of producing it

• demand

• monopoly

• supply

• business risk

amount of goods producers are willing to make and sell

• demand

• monopoly

• supply

• business risk

potential for loss or failure

• demand

• monopoly

• supply

• business risk

consumers buying products that are lowest priced

• non-price competition

• derived demand

• production

• wholesalers

in organizational markets demand for consumer goods and services

• non-price competition

• derived demand

• production

• wholesalers

creating, growing, manufacturing, improving on goods and services

• non-price competition

• derived demand

• production

• wholesalers

obtain goods from manufacturers and resell to organizational users

• non-price competition

• derived demand

• production

• wholesalers

military, social, and regulatory agencies

• public sector

• surplus of goods

• private sector

• surplus of services

when supply exceeds demands

• public sector

• surplus of goods

• private sector

• surplus of services