Which of the Following Best Defines a Buying Centre in Which

question 111

Multiple Choice

Which of the following best defines a buying centre in which the majority rules while making decisions?

• A)Autocratic
• B)Consensus
• C)Modified
• D)Consultative
• E)Democratic

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Definitions:

Factors Of Production

The four economic resources: land, labor, capital, and entrepreneurial ability.

Economic Systems

The structure and methods by which a society allocates resources and distributes goods and services among its population.

Business Risk

The potential for financial loss or failure in the operation of a company due to factors like market conditions, regulatory changes, or operational challenges.

Market System

An economic model where investment, production, and distribution decisions are influenced by supply and demand, with the prices of goods and services being set in a free pricing system.