What Is the Main Difference Between a Generic Market and a Product-Market

question 10

Multiple Choice

What is the main difference between a generic market and a product-market?

• A)A generic-market involves a less similar set of needs than does a product-market.
• B)A product-market is usually larger than a generic market.
• C)Product-markets usually don't involve competition,but generic markets do.
• D)Sellers in a generic market are more concerned with prices than sellers in a product-market.
• E)There is no difference between the two.

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Definitions:

Injections

In economic terms, it refers to the introduction of income into the flow of the economy through investment, government spending, or exports.

Consumer Price Index (CPI)

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate the cost of living.

Inflation Rate

The percentage increase in the general level of prices for goods and services in an economy over a period of time.

Gross Domestic Product (GDP)

The market value of all final goods and services produced in the nation during a particular period, usually a year.