Which of the following statements about market types are correct?
a) On institutional markets (also called B-markets), transaction costs are fundamentally lower than on consumer markets (also called C-markets).
b) On institutional markets, a purchase decision is often made by several persons or at least by individuals who have to answer for their decision to committees.
c) Private auctions on eBay are a B-to-C transaction.
d) An advantage of an intermediary in a market is the reduction of transaction costs
Answer:
b) On institutional markets, a purchase decision is often made by several persons or at least by individuals who have to answer for their decision to committees.
d) An advantage of an intermediary in a market is the reduction of transaction costs