A set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user is called a(n) ?
Correct answer: C. distribution channel
- A. retailer
- B. wholesaler
- C. distribution channel
- D. logistics
Explanation
A distribution channel is the network of interdependent organizations that moves a product or service from producer to final user. Retailers and wholesalers are individual types of channel members, not the whole network.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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