Which of the Following Terms Refers to a Goal-Directed, Social

question 20

Multiple Choice

Which of the following terms refers to a goal-directed, social entity designed as a deliberately structured and coordinated activity system with clearly defined membership?

• A) Community
• B) Organization
• C) Group
• D) Niche

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Definitions:

Reverse Auction

A type of auction in which sellers bid to provide goods or services to a buyer, with prices typically decreasing over time until a winning bid is selected.

Would-Be Suppliers

Potential vendors or suppliers that are interested in providing goods or services to a company.

Competition

The alternative firms that could provide a product to satisfy a specific market’s needs.

Organizational Markets

Markets that involve the sale of goods or services to other businesses, government bodies, or institutions, rather than to individual consumers.