A market is people or organizations that have which of the following?
A) needs and wants and an ability and willingness to buy
B) the ability,willingness,and power to buy
C) a medium of exchange and products they desire
D) unmet needs or wants and products or services that satisfy those unmet needs or wants

Question

Quizplus · Accepted Answer

A market consists of individuals or organizations who have needs or wants and are able, willing, and have the power to buy products or services that satisfy those needs or wants. Therefore, choice A is the best option. Choice B is incorrect because power is not always a requirement for being a part of the market. Choice C implies that everyone in the market already has a medium of exchange, which is not always true. Choice D implies that the market already has products or services that satisfy the unmet needs or wants, which is not always the case.

A Market Is People or Organizations That Have Which of the Following