In a Generic Market

question 270

Multiple Choice

In a generic market

• A) sellers offer various, often diverse, ways of satisfying broadly similar needs.
• B) consumers are offered various close substitute ways of satisfying needs.
• C) is the same as the product-market.
• D) is a market where customers have very diverse needs.
• E) sells unbranded products.

---

Definitions:

Merchandise Balance of Trade

The difference in value between a country's merchandise exports and merchandise imports over a certain period.

Negative

In an economic context, this term often implies a deficit or a diminishing amount in financial accounts or outcomes.

Year

A period of time consisting of 365 days, or 366 in a leap year, used as a primary time unit in most calendar systems.

Trade Imbalance

A situation where the value of a country's imports significantly exceeds or is less than the value of its exports.