Answers are at the End of Each Chapter Chapter 1 Student name:__________ 1) Marketing is basically selling and advertising. ⊚ true ⊚ false 2) Making goods or performing services is called production. ⊚ true ⊚ false 3) Estimating what price consumers are willing to pay for a product and assessing whether the firm can make a profit selling at that price is an example of a production activity. ⊚ true ⊚ false 4) Marketing can provide needed direction for production and help make sure that the right goods and services find their way to interested consumers. ⊚ true ⊚ false 5) Marketing plays an essential role in creating customer satisfaction. ⊚ true ⊚ false