Which of the following is true of what makes up a market?
A)It includes both supply and demand,and it can be a physical or virtual location.
B)It includes both supply and demand,but cannot be defined by space.
C)It must have both customers and consumers.
D)It must have customers,but not necessarily consumers,and it is defined by the presence of demand but not necessarily supply.

Question

Quizplus · Accepted Answer

A market is defined as the interaction between buyers and sellers that results in the exchange of goods or services. This interaction includes both supply (sellers offering goods or services) and demand (buyers seeking goods or services). A market can be a physical location (such as a farmer's market) or a virtual one (such as an online marketplace).

Which of the Following Is True of What Makes Up