1) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

A. A command economy.

B. Making goods or performing services.

C. Marketing.

D. Production.

2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

A. A production activity.

B. A part of marketing.

C. An example of the micro-macro dilemma.

D. One of the universal functions of innovation.

3) According to the text, marketing means:

A. Selling.

B. Advertising.

C. Producing and selling.

D. Much more than selling and advertising.

4) To compete more successfully with its many competitors offering...