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Question
______ philosophy suggests, that, the organisation should earn profit through volume of production.
Options
Production concept
Marketing concept
Pricing concept
Societal concept
Solution
Production concept philosophy suggests, that, the organisation should earn profit through volume of production.
Explanation:
The production concept emphasizes that consumers favour products that are available and highly affordable. It suggests that organizations should focus on increasing production efficiency and volume to achieve economies of scale and generate profit. This concept assumes that a higher volume of production leads to lower costs and higher sales.
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