Question

The size of a market can be measured in terms of which of the following?

1) Volume of sales
2) Profitability
3) Marketing budgets
4) Number of customers

Answer 1

The size of a market can be measured in terms of the volume of sales, profitability, number of customers, and marketing budgets.

Step-by-step explanation:

The size of a market can be measured in terms of the volume of sales, profitability, number of customers, and marketing budgets.

1) Volume of sales: This is the total value of goods or services sold by all firms in the market. It provides an indication of the market's total activity and can help gauge its size.

2) Profitability: Profitability measures the extent to which firms in the market are able to generate profits from their operations. A highly profitable market may attract more firms, indicating a larger market.

3) Number of customers: The number of customers in a market can indicate its size. A market with a larger customer base may have more potential for sales.

4) Marketing budgets: The amount of money firms in the market allocate towards marketing activities can reveal the size and competitiveness of the market. A larger marketing budget may suggest a larger market.