Potential buyers and sellers of a particular good comprise the
A) market for the good.
B) demand for the good.
C) supply for the good.
D) production possibilities curve for the good.
E) economic model for all goods in a mixed economy

Question

Quizplus · Accepted Answer

The market for a good is the group of potential buyers and sellers who are actively engaged in transactions related to that good. Therefore, option A is the correct choice as it defines the potential buyers and sellers of a particular good. Option B refers only to the buyers' demand, while option C refers only to the sellers' supply. Option D is a graph that illustrates the production possibilities of an economy as a whole, and option E is too broad, referring to all goods in a mixed economy.

Potential Buyers and Sellers of a Particular Good Comprise the