Final answer:
The true statement about business markets is E) Business buyers buy goods to make or resell a product to others at a profit, as such markets involve well-informed buyers, significant purchasing power, and products tailored to industry needs.
Step-by-step explanation:
The question asks which statement is true of business markets, suggesting an understanding of how business buyers behave. The correct answer is E) Business buyers buy goods to make or resell a product to others at a profit. This is because in business markets, the purchase of goods or services is often done with the intention of using them in the production of other goods, provision of services, or for resale at a profit.
In contrast to consumer markets, business markets are characterized by buyers who are well informed about products, significant purchasing power, and competitive product offerings that are tailored to industry needs rather than highly standardized products.
Factors such as property rights, language, culture, and local laws are indeed concerns in business markets but are not the primary distinguishing feature. Rather, they are elements that influence how transactions and relationships are managed in a diverse and global market environment.
With the rise of technology and globalization, buyers and suppliers can easily connect through business-to-business platforms, which increases competition and the need for businesses to be well-informed and operate with strategic consideration of these varied aspects.
Therefore,the correct answer is option E) Business buyers buy goods to make or resell a product to others at a profit.