Which of the Following Statements About a Vertical Market Is

question 30

Multiple Choice

 Which of the following statements about a vertical market is true?

• A) It is a market that consists solely of buyers of agricultural goods.
• B) It is a type of consumer goods market.
• C) It consists of products that are purchased by many different industries.
• D) It is narrow because customers are restricted to a few industries.

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Definitions:

Relative Scarcity

The condition where the availability of resources is limited compared to the unlimited wants and needs.

Demand For Resource

The desire and willingness of firms or individuals to acquire resources at various price levels.

Resource

Refers to assets or inputs used in the production of goods and services, such as time, money, or raw materials.

Certification Requirements

Standards or qualifications that must be met or obtained in order to engage in certain professions or activities.