The purchases of schools, nursing homes, prisons and other institutions are classified as_________?
Correct answer: C. institutional markets
- A. government markets
- B. consumer markets
- C. institutional markets
- D. business markets
Explanation
Schools, nursing homes and prisons purchase goods and services to serve groups of people rather than to resell them for profit, so they belong to institutional markets. Government markets specifically refer to purchases by government departments and agencies.
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