Consumers have a limited amount of money they can spend.When an individual thinks about paying bills,saving money,purchasing food,buying gas for the car,or purchasing clothes instead of purchasing a ticket to a professional basketball game,it is
A)generic competition
B)brand competition
C)price competition
D)category competition

Question

Quizplus · Accepted Answer

Generic competition refers to the competition between goods and services that fulfill the same basic need, in this case, the allocation of limited consumer funds among various basic needs and desires, rather than between specific brands or prices.

Consumers Have a Limited Amount of Money They Can Spend