Which of the following features are relevant for determining the extent of a market?
A) Its geographical boundaries
B) Technological innovations that would reduce the cost of production
C) The range of products to be included in it
D) both A and B
E) both A and C

Question

Quizplus · Accepted Answer

The extent of a market is determined by its geographical boundaries and the range of products to be included in it. Technological innovations that reduce the cost of production may impact the size of the market indirectly, but they are not a direct determinant of the extent of the market.

Which of the Following Features Are Relevant for Determining the Extent