A Generic Market Is One in Which

Multiple Choice

A generic market is one in which

A) products from different industries compete for customers by trying to satisfy the same basic need.
B) no firm can establish a competitive advantage.
C) a number of firms are all offering new or improved products in an effort to increase sales.
D) one seller has a patent for a superior product and other competitors imitate the leader with inferior products.
E) None of these answers is correct.