Since Business Marketers Have Fewer Buyers Than Consumer Marketers, Business

question 4

Multiple Choice

Since business marketers have fewer buyers than consumer marketers, business buyers often face ________ than do consumer buyers.

• A) less complex buying decisions
• B) shorter buying processes
• C) informal buying processes
• D) more complex buying decisions
• E) fewer product details

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Definitions:

Labor

Labor represents the human effort, both physical and mental, used in the production of goods and services.

Capital

Financial assets or the financial value of assets, such as cash and goods, working to produce further wealth or used in the production of goods and services.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors, leading to specialized production and trade.

Production Possibilities

Different mixtures of products and services that an economy can generate with its current resources and technological capabilities.