Business Theme 1: Meeting Customer needs - The Market

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Match the words with the definitions

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Market

Mass market

Niche market

Demand

Demand curve

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The amounts (quantity) demanded of a product in the market at different price points

The quantity that customers are willing and able to buy at a given price in a given period of time.

A small segment of a much larger market. Sales are lower but prices are higher

Any place where buyers and sellers will come together to exchange goods or services.

The largest segment of the market. prices are lower but sales are higher


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