A business’s major role is toMultiple Choiceenable healthy competition.ensure operating efficiency.facilitate manufacturing.satisfy customer needs.

The role of the entrepreneur in society is toMultiple Choiceprovide capital to the firm which the management combines with labor.bring the factors of production together and take the risks of producing.control the land upon which all production takes place to get the most rent.regulate what products are considered safe to market.

A company with a value chain system that sells directly consumers is able toMultiple choice question.bypass the costs of distributors.reduce the need for cost drivers.increase overhead expenditures.develop better relationships with distributors.

In the context of a market orientation, it is more efficient and less expensive for an organization toMultiple Choiceview the products as the ultimate drivers of marketing strategy.focus on increasing the amount of business from new customers.retain existing customers.provide a single point of interaction with customers.

Competition fosters efficiency and low prices becauseMultiple Choicebuyers will have a limited choice of goods and services.the government regulates the prices of goods and services.a decreased supply of goods and services depresses prices.producers have to offer the best products at the most reasonable price.

Manufacturers and service providers are similar in that both forms of businessMultiple Choiceproduce outputs prior to purchase.make design and operating decisions.have very little direct customer contact.implement straightforward methods of assessing productivity.