A market is the set of actual and potential buyers of a product or service.

Question

Quizplus · Accepted Answer

A market is defined as a group of actual and potential buyers of a product or service who have the ability and willingness to buy. The market includes both the demand side (buyers) and the supply side (sellers) of the product or service. Understanding the characteristics and behavior of the market is important for businesses to develop effective marketing strategies and maximize their profits.

A Market Is the Set of Actual and Potential Buyers