A market is defined as:
A) the set of actual buyers.
B) a demographic segment of the population.
C) the set of potential buyers.
D) a target group of consumers with similar purchasing habits.
E) the set of actual and potential buyers.

Question

Quizplus · Accepted Answer

A market includes both actual buyers and potential buyers who may be interested in purchasing a particular product or service. Therefore, choice E, which includes both actual and potential buyers, is the best option. Choices A, B, C, and D are incorrect because they do not capture the full definition of a market.

A Market Is Defined As