March 23, 2018 

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MARKETING CONCEPT: Focusing the company’s attention on the wants and needs of the customer in the development of products, services, ideas, and strategies. This customer driven focus is throughout the structure of the organization, from the boardroom to the shipping department and every place in between. When a decision is to be made, the question is asked: “Is this going to be good for the customer?” If the answer is yes, the company is following the marketing concept

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Lesson 9: Macro Basics | Unit 4: Policies Page: 12 of 16

Topic: Viewpoints <=PAGE BACK | PAGE NEXT=>

People can take different views of government and economic polices that depend on political philosophies.
  • Liberal Democrat: The view that government is the only way to keep the economy running smoothly, using paternalistic, hands-on policies. If a problem arises, then government is the answer.
  • Conservative Republican: The view that government is the problem, not the solution. The best government is the least government because it is a tyrannical oppressor of individual rights and freedoms.
  • One view or the other is usually the basis of an economic policy.
The government can be the solution and it can be the problem.

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The notion that buyers and sellers, consumers and producers, households and businesses, by pursuing their own self-interests do what is best for the economy automatically without any government intervention, as if guided by an invisible hand.

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Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for pencil sharpeners with an attitude.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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