Which of the Following Is True of Business Markets

question 21

Multiple Choice

Which of the following is true of business markets?

• A)The business marketer normally deals with far more but far smaller buyers than the consumer marketer does.
• B)Business markets involve far less money and items than do consumer markets.
• C)Business demand is derived demand as it ultimately derives from the demand for consumer goods.
• D)A small percentage decrease in consumer demand can cause large increases in business demand.
• E)The total demand for business products is much affected by price changes in the short and long run.

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Definitions:

Collectivism

A cultural value that emphasizes the priority of group goals over individual goals and the importance of cohesion within social groups.

North America

A continent located in the Northern Hemisphere, mainly consisting of three countries: Canada, the United States, and Mexico.

China

A country in East Asia, the world's most populous nation, known for its rich history, culture, and its significant role in the global economy and politics.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, characterized by diverse cultures, languages, and histories among its countries.