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:

Economic

Pertaining to the production, distribution, and consumption of goods and services, or the material welfare of humans.

Political

Relating to the government or public affairs of a country.

National

Pertaining to or characteristic of a whole nation or country, as opposed to local or regional characteristics.

Market Segmentation

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing strategies.