Customers Fall into One of Three Groups.They Are

question 42

Multiple Choice

Customers fall into one of three groups.They are:

• A) individuals, households, and other businesses.
• B) stakeholders, governments, and nonprofit groups.
• C) households, firms, and governments.
• D) retailers, wholesalers, and consumers.
• E) governments, stakeholders, and manufacturers.

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Definitions:

Simultaneous Decrease

A situation where two or more economic variables or quantities decline at the same time.

Demand Curve

The Demand Curve is a graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.

Y Axis

The vertical line in a graph or chart that typically represents the dependent variable.