Which of the Following Is True Regarding the Number of Customers

question 63

Multiple Choice

Which of the following is true regarding the number of customers in business markets?

• A) Business marketers have many more customers than consumer marketers.
• B) It is lot easier for business marketers to identify prospective buyers,monitor current customers' needs and levels of satisfaction.
• C) It becomes impossible for business marketers to attend to each customer in their markets.
• D) The main advantage for business marketers is that each customer becomes crucial-especially for those manufacturers that have only one customer.

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Definitions:

Wage Discrimination

The practice of paying different wages to employees who perform similar jobs, based on non-job-related factors like gender, race, or age.

Efficiency Wage

A wage set above the market equilibrium to increase productivity by encouraging higher effort or reducing turnover among employees.

Positive Amount of Unemployment

A situation where there is a nonzero level of unemployment in the economy, often considered normal due to frictions and transitions in the job market.

Market-clearing Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded.