In business markets, buyers tend to be larger and fewer in number than in consumer markets.

Question

Quizplus · Accepted Answer

This statement is true. Business markets typically involve transactions between firms or organizations, which tend to have larger budgets and require higher quantities of goods or services. As a result, there are typically fewer buyers in these markets, but each buyer represents a much larger share of the market's demand. In contrast, consumer markets involve transactions between individual consumers and businesses, and tend to have a larger number of buyers who make smaller purchases.

In Business Markets, Buyers Tend to Be Larger and Fewer