Question Details

Economists note that imperfect competition occurs where consumers have unique needs 


True or false:
1.	Economists note that imperfect competition occurs where consumers have unique needs and desires.
	

	2.	When a large, heterogeneous market is segmented into smaller, homogeneous markets, the demand can become more price elastic—consumers are willing to pay more to get something that is closer to what they want.
	

	3.	Maslow- hierarchy ranges from satisfaction of basic biological needs to more abstract needs regarding well-being.


	4.	In marketing, we deal with customer differences through segmentation.


	5.	A market segment is an individual customer who shares similar inclinations toward your brand.




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