Which of the Following Dimensions of a Product Market Definition

question 59

Multiple Choice

Which of the following dimensions of a product market definition is(are) relevant?

• A)the alternative technologies available to satisfy a particular need (technology dimension)
• B)the sequence of stages along which competitors serving the market can operate (value-added system dimension)
• C)the customer groups that have needs that must be served (customer segment dimension)
• D)all of the above
• E)(a)and (c)only

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping, indicating that as price decreases, demand increases.

Complement

A good or service that is used together with another good or service, which increases the demand for each other.

Financing

The process of providing or obtaining the funds necessary for investment, purchase, or undertaking a project.

Normal Good

A good whose demand varies directly with income; nearly all goods are normal goods.