A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.
A) generic market
B) standard market
C) target market
D) global market
E) product-market

Question

Quizplus · Accepted Answer

A product-market is defined as a market that consists of groups of customers who share a similar set of needs/wants and who are looking for a similar set of solutions. This definition fits with the description given in the question, which describes a market where buyers have similar needs and sellers offer close substitutes to meet those needs. Therefore, the correct answer is option E, product-market.

A _____ Is a Market with Very Similar Needs and Sellers