Which of the following correctly defines the consumer market? A. Manufacturers, resellers, and consumers B. Consumers and the resellers who consumers buy their products from C. Consumers who spend more than $5000.00 yearly on goods and services D. Individuals and households that buy goods and services for personal consumption E. Consumers and the businesses that sell to them

Question

Business

Brisa Murray

16 January, 06:58

Which of the following correctly defines the consumer market? A. Manufacturers, resellers, and consumers B. Consumers and the resellers who consumers buy their products from C. Consumers who spend more than $5000.00 yearly on goods and services D. Individuals and households that buy goods and services for personal consumption E. Consumers and the businesses that sell to them

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Answers (1)

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Macey · Answer 1

The correct answer is option D.

Explanation:

Consumer market can be defined as the market where consumers purchase goods and services for personal consumption and not for resale.

The market is dominated by the products that are used by consumers.

Every time a consumer is purchasing a good or service for personal consumption, he is participating in the consumer market.

There are four types of consumer markets; food and beverages, retail, consumer products, and transportation.