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

question 174

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.
• E) None of the above statements is true.

---

Definitions:

Perceive

To become aware or conscious of something through the senses.

Spotlight Question

A focused inquiry that seeks to illuminate crucial aspects of a situation, often used to gain deeper understanding or find solutions.

Ethics

The moral standards of what is “good” and “right” in one’s behaviour.

Family

A group of one or more parents and their children living together as a unit, or broader social units constructed through blood, marriage, or adoption ties.