The term “micro-macro dilemma” means that: A) most people are both producers and consumers. B) marketing people cannot agree on whether marketing should be viewed as activities or as a social process. C) macro-marketing is just a small part of a larger micro-marketing system. D) the micro view of marketing is concerned with the flow of goods and services from producers to consumers–while the macro view is not. E) what is “good” for some producers and consumers may not be good for society as a whole.

E) what is “good” for some producers and consumers may not be good for society as a whole. The micro-macro dilemma refers to what is “good” for some firms and consumers may not be good for society as a whole. More test answers on https://studyhippo.com/buad301-practice-quizzes/

What is the difference between producers and consumers?

Producers make the products and consumers buy them More test answers on https://studyhippo.com/economics-unit-1-review-8/

Which of the following is a strength of a market economy? a. It gives producers and consumers a great deal of freedom. b. It provides centralized planning. c. It offers guaranteed lifetime employment. d. No one is allowed to live in poverty.

it givers producers and consumers a great deal of freedom More test answers on https://studyhippo.com/economics-multiple-choice/

When making decisions about production and allocation, which type of system depends on individual producers and consumers to create a combination of supply and demand?

Market economy More test answers on https://studyhippo.com/business-finance-review/

Asymmetric information refers to a situation in which A. producers and consumers exchange information. B. a producer has product information that the consumer lacks. C. a consumer has product information that the producer lacks. D. producers and consumers have identical information.

B. a producer has product information that the consumer lacks. More test answers on https://studyhippo.com/microeconomics-chapter-27/

Which is a marketing transaction more money is typically trade for a good or service between producers and consumers

Exchange More test answers on https://studyhippo.com/sports-marketing-80-terms/

Exchange between producers and consumers is more difficult in an advanced economy because of:

All of the above More test answers on https://studyhippo.com/marketing-one-reynolds/

In a ____ the individual decisions of the many producers and consumers make the macro- level decisions for the whole economy.

market-directed economy More test answers on https://studyhippo.com/marketing-one-reynolds/

exchange between producers and consumers is hampered by

spatial separation, separation in time, separation of info and values, separation of ownership, discrepancies of quantity, discrepancies of assortment More test answers on https://studyhippo.com/chapter-1-marketings-value-to-consumers-firms-and-society/

A basic characteristic of _____ is that both producers and consumers are free to make their own economic decisions on many basic issues.

capitalism More test answers on https://studyhippo.com/busi-1301-mid-term/

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What is Producers And Consumers?

A producer is an individual or company that manufactures, creates, produces or grows a product or service. Producers are essential to the supply and demand of goods on a global scale. They provide the raw materials needed for production, purchase equipment and supplies necessary to create products, hire employees to assist in creating and producing products, market their products and services to customers around the world, manage inventory levels, plan and develop new products, take customer orders and deliver those orders within specified timeframes. On the other hand Consumers are individuals who buy goods or services with their own money. Consumers play an important role in any economy as they are usually responsible for purchasing most of the goods available in stores. They use their money to decide which items will be produced by producers. The price of goods reflects how much consumers are willing to pay for them as well as how much it costs producers to make them; thus providing incentives for both parties involved in economic transactions. Producers must take into account consumer preferences when making decisions about what types of products or services they should offer at different price points in order accommodate various budgets. By doing this producers can maximize their profits while also meeting customer needs effectively. Conversely consumers must consider quality standards set by producers when making purchases so that they get value for their money spent on a given item or service. In conclusion both producers and consumers have an integral role in economics each relying on one another’s actions to ensure that economic activities remain balanced and profitable over time.