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When Many Customers Share a Strong Need That Cannot Be

question 105

Multiple Choice

When many customers share a strong need that cannot be satisfied by any existing products or services,this is known as ________.


Definitions:

Market Price

The current value at which an asset or service can be bought or sold in a market.

Contract Price

The total monetary amount that is agreed upon by the parties involved for the performance of contractual obligations.

Statute of Limitations

The law that sets the maximum period one can wait before filing a lawsuit, depending on the type of case or claim.

Nonconforming Goods

Products delivered under a sales contract that fail to meet the specifications, quality, or quantity required by the agreement.

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