So far, we have covered the differences between consumer markets and business markets.Answer the following questions then post your answers:Give an example of a specific product whose value is perceived differently by the customer and the business supplier. (Let’s try to expand beyond the ones mentioned in the textbook, although they should give you some ideas.)
Identify these differences in value and provide an explanation of why final consumers and business suppliers might perceive them differently.What is meant when we say that business-to-business demand is inelastic in the short term and discontinuous in the long term? [you might find some clues in your textbook p. 11]Give an example of a real business/industry that illustrates this phenomenon.
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