One basic difference between a generic market and a product-market is seen in
A)whether or not sellers in the market rely on e-commerce.
B)how similar the competing sellers' products are.
C)whether customer needs are similar or different.
D)whether the market includes only buyers-or both buyers and sellers.
E)There is no difference-the terms mean the same thing.

Question

Quizplus · Accepted Answer

A generic market is a market with broadly similar needs-and sellers offering various,often diverse,ways of satisfying those needs.In contrast,a product-market is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

One Basic Difference Between a Generic Market and a Product-Market