In Order to Be Appropriately Considered a Market, a Group

question 58

Multiple Choice

In order to be appropriately considered a market, a group of customers or potential customers must have

• A) purchasing power.
• B) market power.
• C) satisfied needs.
• D) correlated needs.

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Definitions:

Identical Elements

A learning theory principle suggesting that transfer of learning occurs when the learning and application situations share the same elements.

Underlying Principles

Fundamental concepts or assumptions that form the basis for a system, theory, or policy.

External Locus

A belief that one's successes or failures result from external factors beyond their control.

Cognitive Ability

The capacity to perform higher mental processes of reasoning, remembering, understanding, and problem-solving.