Question

True or false: people in business get ahead by meeting the needs of their consumers. as a result, both businesses and customers benefit from voluntary exchange.

Answer 1

The correct answer is: TRUE

Step-by-step explanation:

When individuals engage in a voluntary exchange, both parties are made better off and no party suffers. Businesses benefit by selling goods and services whereas customers benefit from obtaining them. See section: Trade creates value.

Answer 2

True. People in business get ahead by meeting the needs of their consumers. As a result, both businesses and customers benefit from voluntary exchange. When a business can make their consumers happy, they are likely to have repeat customers and gain new customers from referral. Word of mouth advertising is one of the most common ways to gain customers so by making sure current customer needs are met, new ones may be too.