A Product-Market Is One in Which

question 192

Multiple Choice

A product-market is one in which

• A) products from different industries compete for customers by trying to satisfy the same basic need.
• B) price is the determining factor in deciding which brand to buy.
• C) all of the customers want the exact same product but will consider a substitute if their preferred brand is not available.
• D) one seller has a monopoly and there is no competition.
• E) None of the above is true.

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Definitions:

Effectively

In a manner that produces the intended result or a successful outcome.

Independently

Acting alone without the influence, input, or assistance from others; self-reliant.

Learning Disability

A neurological disorder that affects a person's ability to understand, process, or communicate information.

Diagnosed

The process of identifying a disease or condition by its signs, symptoms, and through the use of diagnostic tests.