Which of the Following Is NOT True of a Product-Market

question 217

Multiple Choice

Which of the following is NOT true of a product-market?

• A)Competing suppliers offer close substitutes to satisfy needs.
• B)Customers in a product-market have very similar needs.
• C)Very different types of products may compete for consumer dollars.
• D)Naming product-markets includes consideration of where the customers are.

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Definitions:

Job Evaluations

A systematic process for determining the relative worth or value of a job within an organization, often to ensure fair compensation.

Compensation Practices

The methods and guidelines businesses use to determine how to compensate their employees effectively and fairly.

Effectiveness Criteria

Standards or metrics used to assess the success or performance of an employee, project, or organization in achieving its goals.

Reward System

A set of mechanisms for distributing both tangible and intangible returns as part of an employment relationship.