The Main Difference Between a Generic Market and a Product-Market

question 74

Multiple Choice

The main difference between a generic market and a product-market is that:

• A) a generic-market involves a less similar set of needs than does a product-market.
• B) a product-market is usually larger than a generic market.
• C) product-markets usually don't involve competition, but generic markets do.
• D) sellers in a generic market are more concerned with prices than sellers in a product-market.
• E) There is no difference between the two.

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Definitions:

Causes

Factors or conditions that bring about an effect or a change.

Abnormal Behavior

Patterns of emotion, thought, and action deemed pathological for being statistically unusual, violating norms, or causing distress and functional impairment.

Psychologists

Professionals who study mental processes and behavior, often conducting research, assessments, and therapy to understand and improve psychological well-being.

Psychological Disorders

Patterns of behavioral, cognitive, emotional, or physical symptoms that lead to distress, disability, or significant risk of harm, classified and described in diagnostic manuals such as the DSM and ICD.