Discussion
In sellers' market situation, ............... dominate the decisions and activities in the market.
Answer: A
In a sellers' market, manufacturers and dealers dominate.
A sellers' market exists when demand exceeds supply, as in shortages or under a protected, licensed economy. Buyers compete for limited goods, so producers and their dealers can dictate prices, terms, quality and delivery, and need make little effort to understand or satisfy customers.
Consumers dominate in the opposite situation, a buyers' market, where supply exceeds demand and sellers compete for customers. Competitors are by definition weak in a sellers' market, since everything produced can be sold. Banks and insurance companies are providers of services, not the parties that dominate a product market.
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development