Which of the following is an example of a demand condition?
A)available natural resources
B)existence of supplier clusters
C)sophistication of consumers
D)intensity of competition
E)competitive wage rates

Question

Quizplus · Accepted Answer

The sophistication of consumers is an example of a demand condition as it refers to the consumers' preferences and demand for innovative products or services. This can affect the competitiveness of businesses operating in the market. The other options (A, B, D, E) are examples of factors related to the supply side of the market.

Which of the Following Is an Example of a Demand