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Which statement is true about a product market?
A)The cost of labor does not affect the product market because it is an insignificant part of an organization's costs.
B)Product-market considerations are of particular concern to a company when its customers place greater importance on product rather than price.
C)Organizations in a product market are competing to serve the same customers.
D)Product markets typically place a lower limit on the pay an organization will offer its employees.

Respuesta :

jerry072004
I believe D is products parquet typically place a lower limit on the pay an organization will offer its employees

The statement that asserts a true claim regarding a product market would be:

C). Organizations in a product market are competing to serve the same customers.

  • 'Product-market' is described as the market in which a wide variety, of goods(products), as well as, services are available to trade to the customers.
  • In such a market, all the vendors(merchants) or servicemen aim to serve the same defined range of customers located in or near that very area or place.
  • This causes to develop a competition amongst the sellers as they all want to sell the maximum to make the optimum profit and this leads them to offer a variety of discounts or offers to attract the customers.

Therefore, option C is the correct answer.

Learn more about 'Product Market' here:

brainly.com/question/3964664