Commercial Applications
In the Production-Oriented Stage, businesses operated on the assumption that supply would create its own demand.
- True
- False
Markets & Marketing
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Answer
True
Reason — The production-oriented stage (1869–1930) was based on Say's Law which states that 'Supply creates its own demand.' During this stage, demand exceeded supply and customers were willing to buy whatever was produced, so the focus was on mass production rather than creating demand.
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