Teenagers spend billions of dollars on smartphones, music downloads, and video games. They have the ability, willingness, and authority to purchase such products because of their perceived need. These teenagers are an example of what type of market?

Question

Quizplus · Accepted Answer

Teenagers are buying products for their own personal use, making them consumers in the market. B) Producer markets refer to companies that produce and sell goods or services, so this does not apply to teenage spending. C) Governmental markets involve government agencies buying goods or services, which does not apply to teenage spending. D) Institutional markets refer to organizations or institutions buying products for their use, which also does not apply to teenage spending.

Teenagers Spend Billions of Dollars on Smartphones, Music Downloads, and Video