Which of the Following Is True with Respect to Buyers

question 103

Multiple Choice

Which of the following is true with respect to buyers in business markets?

• A) Business buyers always act rationally when making purchases for their company.
• B) Business customers tend to be less informed about the products they purchase than consumer buyers.
• C) Business customers demand detailed information about a product's functional features and technical specifications.
• D) Business customers are no different than buyers in consumer markets.
• E) Business customers tend to buy products from their friends and contacts with business suppliers.

---

Definitions:

Unit Elasticity

A circumstance where the percentage variation in the quantity that is either demanded or supplied matches the percentage variation in its price.

Demand

The amount of a product or service that shoppers are ready and capable of buying at different price levels within a specific period.

Total Revenue

The sum of money a company earns from selling products or providing services in a specific time frame.