A ________Refers to People with Unsatisfied Wants and Needs Who

question 189

Multiple Choice

A ________refers to people with unsatisfied wants and needs who are willing and able to buy a product or service.

• A)consumer collective
• B)consumer co-operative
• C)market
• D)buyer's co-operative

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Definitions:

Insurable Interest

A basic requirement for the issuance of an insurance policy, indicating that the person purchasing the policy has a stake in the safety or preservation of the insured item or person.

Equipment

Tangible assets used in the operation or activities of a business or entity, ranging from office supplies to machinery.

Arbitration Clause

A contract provision that requires parties to settle disputes through arbitration rather than litigation in courts.

Credible Insurance

Insurance coverage provided by a reputable and financially stable company that can be trusted to pay out claims as stipulated by the policy.