Which of the Following Statements Most Accurately Describes the People

question 219

Multiple Choice

Which of the following statements most accurately describes the people in the buying center of a medium-sized manufacturing plant?

• A)The composition of the buying center remains constant over long periods of time.
• B)The buying center avoids cross-functional teams whenever possible.
• C)The composition of the buying center depends on the specific item being purchased.
• D)It's easy to locate and reach the people who comprise the buying center.
• E)Most government units use a formal buying center to arrive at buying decisions.

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Definitions:

Price System

Mechanism that allocates resources, goods, and services based on supply and demand.

Price Ceilings

Price ceilings are regulatory measures that set a maximum price that can be charged for certain goods or services, with the goal of ensuring affordability.

Price Floors

Minimum prices set by the government for certain goods and services, aimed at preventing prices from dropping too low.

Distorted

Refers to a situation where economic actions or outcomes are twisted or skewed due to various factors, such as government intervention or market anomalies.