To Be Considered Part of a Market, an Individual Must

question 13

Multiple Choice

To be considered part of a market, an individual must

• A) be a registered buyer.
• B) have made a purchase within the past 30 days.
• C) know the names and addresses of two or more sellers.
• D) have both a willingness to buy and the financial resources needed to buy.

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Definitions:

Franchised Specialty Goods

Retail products sold through outlets operating under a franchise agreement, often focusing on a niche market.

Rack Jobber

A company or individual who provides and stocks merchandise in stores, typically in specialty areas, and shares profits with the retailer or pays for shelf space.

Limited-Function Merchant Wholesaler

A wholesaler that offers a narrower range of services than full-service wholesalers, typically specializing in only certain kinds of products or functions.

Merchant Wholesaler

A type of intermediary that buys goods in bulk from manufacturers or producers and sells them in smaller quantities to retailers or other businesses.