Economic Responsibility Quiz
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Questions and Answers

Which market segment includes businesses that buy materials, equipment, and other products needed to operate and fulfill their own customer demands?

  • Consumer Market
  • Business Markets (correct)
  • Reseller Markets
  • Government Markets
  • What is the difference between a Consumer Market and a Reseller Market?

  • Consumer Market refers to selling to retailers while Reseller Market refers to selling to individual customers
  • Consumer Market refers to businesses while Reseller Market refers to individual customers
  • Consumer Market refers to buying in bulk while Reseller Market refers to buying for personal use
  • Consumer Market refers to individual customers while Reseller Market refers to businesses (correct)
  • What are Government Markets?

  • The purchasing of products and services by businesses to use in their own operations
  • The buying and selling of products and services across international borders
  • The buying of products and services by government agencies for internal usage and operation (correct)
  • The purchasing of products and services by schools and nonprofits
  • What is the purpose of engaging in Global Markets?

    <p>To expand a company's reach and access to new customers, suppliers, and opportunities</p> Signup and view all the answers

    What are Institutional Markets?

    <p>Organizations that purchase products and services for their own use or to offer to their members or recipients</p> Signup and view all the answers

    Which organizations are included in the Institutional Market?

    <p>Organizations that purchase products and services for their own use or to offer to their members or recipients</p> Signup and view all the answers

    What products and services do Institutional Markets purchase?

    <p>Products and services required to perform their daily functions</p> Signup and view all the answers

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