Which of the following statements about markets and industries is TRUE?
A) A market includes buyers but not sellers.
B) A market includes sellers but not buyers.
C) An industry includes buyers but not sellers.
D) An industry includes sellers but not buyers.

Question

Quizplus · Accepted Answer

An industry includes sellers but not buyers. An industry refers to the production of goods or services by firms selling similar or related products. It includes companies that are producing and selling goods or services, which means sellers are included. Buyers are not considered a part of the industry. A market, on the other hand, refers to the space where buyers and sellers come together to conduct transactions. Thus, option D is the correct statement.

Which of the Following Statements About Markets and Industries Is