Dan missed class the day the professor covered the circular flow model. Dan asked his friend Joan to explain markets to him. Joan correctly stated that a market
A) must include a written contract between buyers and sellers.
B) is any arrangement that brings buyers and sellers together.
C) is only a place to purchase groceries.
D) requires a physical location for buyers and sellers to get together.
E) must have many buyers and only one seller, who is willing to sell to all the buyers.
Correct Answer:
Verified
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