________ Are Individuals and Groups That Buy the Goods and Services

question 45

Multiple Choice

________ are individuals and groups that buy the goods and services an organization produces.

• A)Customers
• B)Suppliers
• C)Distributors
• D)Competitors
• E)Processors

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Definitions:

Competitive Forces

Pressures or influences that affect an organization's ability to compete in a market, including rivalry among existing competitors, the threat of new entrants, and bargaining power of customers and suppliers.

Market Allocation

A method of distributing goods and services among buyers and sellers wherein prices are determined by supply and demand forces in the market.

Regulatory Agencies

Governmental bodies responsible for overseeing, implementing, and enforcing laws and regulations within specific sectors.

Secondary Effects

The indirect impact of an event or policy that may not be easily and immediately observable. In the area of policy, these effects are often both unintended and overlooked.