Which statement best describes the difference between consumer and business markets?
A) Consumers purchase goods and services for their own consumption, while businesses buy goods and services for other reasons.
B) Business markets are characterized by low concentration of buyers.
C) Consumers purchase goods and services based on the concept of derived demand, while businesses are most concerned about primary demand.
D) Demand in consumer markets is less susceptible to economic cycles than demand in business markets.

Question

Quizplus · Accepted Answer

Consumer markets are made up of individuals who purchase goods and services for personal consumption, while business markets are made up of organizations that buy goods and services for reasons other than personal consumption, such as production or resale.

Which Statement Best Describes the Difference Between Consumer and Business