Which Statement Best Describes the Difference Between Consumer and Business

question 116

Multiple Choice

Which statement best describes the difference between consumer and business markets?

• A) Consumers purchase goods and services for their own consumption, while businesses buy goods and services for other reasons.
• B) Business markets are characterized by low concentration of buyers.
• C) Consumers purchase goods and services based on the concept of derived demand, while businesses are most concerned about primary demand.
• D) Demand in consumer markets is less susceptible to economic cycles than demand in business markets.

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Definitions:

Collectivist Culture

A social pattern that emphasizes group goals and the importance of cohesion within social or occupational groups.

Greater Good

A principle that actions or policies are considered justifiable if they benefit the majority or improve the overall situation of a community or society.

Personal Values

are the principles and beliefs that guide an individual's behavior and decision-making processes.

Networked Culture

A culture within an organization or community that is heavily influenced by, and heavily utilises, digital communication networks.