A market's boundaries are defined by:
A)The geographies of the markets that are supplied by the incumbents
B)The type of product which is sold, and the type of customers willing to pay for the product
C)Substitutability on the demand side and substitutability on the supply side
D)Substitutability on both the demand side and the supply side, combined with an element of judgment depending on context and purpose

Question

Quizplus · Accepted Answer

Market boundaries are determined by the availability of substitute products on the demand side and substitute suppliers on the supply side. However, the context and purpose of the analysis also play a role in defining the market boundaries, so an element of judgment is needed.

A Market's Boundaries Are Defined By