Which of the Following Statements Is True of Business Markets

question 7

Multiple Choice

Which of the following statements is true of business markets?

• A)Products or services are sold for personal consumption.
• B)Goods that are sold in consumer markets are not sold in business markets.
• C)One customer can account for a huge volume of purchases.
• D)Relationship marketing is given the least importance.

---

Definitions:

Escalator Clauses

Provisions in a contract that allow for an automatic increase in wages or prices under certain conditions.

Productivity Increases

An improvement in the efficiency of production, often measured by the amount of output per unit of input over a period.

Labor Union Membership

The affiliation of individual workers to an organized labor union, which represents their interests in negotiating wages, benefits, and working conditions with employers.

Service Industries

Sectors of the economy that provide intangible products or services such as healthcare, banking, and education.