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23 July, 05:06

All potential customers who have similar characteristics are considered a market. True or false.

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  1. 23 July, 05:45
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    Answer: True

    Explanation: A market is a gathering of potential buyers who are looking to purchase a good or service, and prospective sellers who are willing to provide these goods or services. If customers have similar needs and characteristics for why they require a product, then these customers can be classified under the same market. This makes it easier to supply similar goods to a vast majority of customers who have the same needs for the good. They can be placed into a homogenous market, which is a market place where the goods traded are roughly the same throughout.
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