Market Segments Are Groups Of

question 79

Multiple Choice

Market segments are groups of:

• A) customers within a market that can be different from each other on the basis of their distinct attributes and specific demands.
• B) companies within a market that produce similar goods or services which are close substitutes of each other.
• C) companies that follow a similar business model and cater to the needs of similar customers.
• D) closely related industries.
• E) large companies that are in a position to determine industry price.

---

Definitions:

Budget Line

A graphical depiction of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Consumption Bundles

Combinations of various goods and services that a consumer might purchase using their total available income.

Income

The monetary payment received for work or through investments, pensions, or social benefits, used by individuals or households to consume goods and services.

Marginal Utility

The increased enjoyment or value a buyer gets by consuming an extra unit of a merchandise or service.