Purchase Decisions Tend to Be More Complex in Business Markets

question 93

Multiple Choice

Purchase decisions tend to be more complex in business markets than consumer markets. Accordingly, in business markets you are more likely to find (relative to consumer markets) :

• A) A larger number of customers
• B) More people influencing the buying decision
• C) Fewer people influencing the buying decision
• D) Buyers who are more intelligent
• E) More products

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Definitions:

Home-Country Standards

The regulatory and legal requirements or cultural norms from an individual's or corporation's country of origin that influence their operations abroad.

Host-Country Standards

The regulations, customs, and practices that prevail in the country where a multinational company operates, as opposed to its home country standards.

Classical Economic Model

A theory or approach in economics that emphasizes free markets, the role of competition, and the minimal involvement of government in the economy.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on free market economies and the invisible hand principle.