A Generic Market Is One in Which

question 79

Multiple Choice

A generic market is one in which

• A) products from different industries compete for customers by trying to satisfy the same basic need.
• B) no firm can establish a competitive advantage.
• C) a number of firms are all offering new or improved products in an effort to increase sales.
• D) one seller has a patent for a superior product and other competitors imitate the leader with inferior products.
• E) None of these alternatives is true.

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Definitions:

Academically

Pertaining to schools, colleges, universities, or education and learning in general, often used to describe something related to the academic community or educational achievements.

Tend-and-Befriend

A behavior response theory which suggests that during stress, individuals, particularly women, will seek to form alliances with others as a means to cope.

Fight-or-Flight

A physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Imminent Threat

A danger that is forthcoming and appears likely to occur in the very near future.