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WAEC Marketing 2018 Question 20

Question 20

Markets

A feature of organizational market is that

  1. A.there are few buyers.
  2. B.there are many buyers.
  3. C.professional services are not required.
  4. D.elastic demand can occur.
Show the answer and explanation

Answer: A (there are few buyers.)

Explanation

Organisational markets have a few large buyers, buying professionally, with fairly inelastic demand.