Food markets has the most elastic consumer demand

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Reference no: EM132234386

1) Which sentence accurately describes broad food businesses categories in relation to efficiency and customer service?

A) Commodity food businesses and lifestyle operations are both highly efficient

B) Commodity food businesses are highly efficient, while value chains are not

C) Lifestyle operations are not highly efficient

D) Value chains are less efficient than commodity food businesses

2) What is/are the reason(s) for the trend in U.S. food market consolidation?

A) Affordability and economies of scale

B) Consistency of products

C) Food safety

D) All of the above

3) Which of the following food markets has the most elastic consumer demand?

A) Niche markets

B) Specialized markets

C) Commodity markets

D) All elasticities are the same

Reference no: EM132234386

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