The main functions of markets include
A)establishing a physical location for business transactions.
B)promoting the social interest, but not the self- interest.
C)enabling buyers and sellers to get information about each other.
D)selling goods, but not factors of production.
E)promoting the self- interest, but not the social interest.

Question

Quizplus · Accepted Answer

The main function of markets is to enable buyers and sellers to obtain information about each other. This allows them to make informed decisions about the goods or services being bought or sold. While markets do promote self-interest, they can also promote the overall social interest by creating competition and driving innovation. However, this is not their primary function. Establishing a physical location and selling only goods (not factors of production) are limited aspects of market function.

The Main Functions of Markets Include