A Buying Center That Makes Its Decisions by Majority Vote

question 102

Multiple Choice

A buying center that makes its decisions by majority vote is a(n) ________ buying center.

• A)autocratic
• B)democratic
• C)consultative
• D)consensus
• E)bureaucratic

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Definitions:

Excess Supply

A market situation where the quantity of a good or service offered is greater than the quantity demanded by consumers.

Supply

The total amount of a product or service available for purchase at any given time in the market.

Hurricane

A tropical cyclone with winds exceeding 74 mph, typically characterized by rain, thunderstorms, and strong winds.

Inferior Good

A type of good for which demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed.