The term market always refers to
A) an arrangement in which buyers and sellers meet at a specific time and place.
B) an arrangement in which an auctioneer plays at least a limited role in setting prices.
C) a group of buyers and sellers of a particular good or service.
D) a single buyer and seller of a particular good or service.

Question

Quizplus · Accepted Answer

A market refers to a group of buyers and sellers of a particular good or service, not necessarily requiring a specific time, place, or an auctioneer.

The Term Market Always Refers to