A generic market is one in which

Question $28$ options:

products from different industries compete for customers by trying to satisfy the same basic need.

the market changes often so it cannot be segmented.

no firm can establish a competitive advantage.

one seller has a patent for a superior product and other competitors imitate the leader with inferior products.

a number of firms are all offering new or improved products in an effort to increase sales.

Question $29(1$ point$)$