Which of the Following Is True of Business Markets

question 29

Multiple Choice

Which of the following is true of business markets?

• A) They have more buyers than consumer markets.
• B) They use a more complex process than consumer markets to evaluate new products.
• C) They can be segmented using psychological variables.
• D) They depend only on price and quality to make purchase decisions.
• E) They do not employ professional buyers.

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Definitions:

Utility

In economics, the total satisfaction received from consuming a good or service.

Indifference Map

A graphical representation of different combinations of two goods or bundles among which a consumer is indifferent.

Indifference Curve

A graph representing combinations of goods or services among which a consumer is indifferent, showing preference levels and the trade-offs between different bundles.