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Essay text:
102
3. Mining, manufacturing, banking, and distribution services are all considered part of the business market. True (easy) p. 102
4. Schools and prisons are considered institutional buying organizations and they tend to have captive clienteles and limited budgets. True (moderate) p. 102
5. Characteristics of business markets include that there are more buyers and larger buyers. False (moderate) p. 103, Table 6.1
6. When compared to the consumer market, the demand for goods and services in the business market is derived. True (moderate) p. 103, Table 6.1
7. In selling to the government, the contract is always awarded to the lowest bidder...
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