A(n) _____ is a market in which the social relationships among buyers and sellers change the way the market operates.

Question

Quizplus · Accepted Answer

An embedded market is a market in which the social relationships among buyers and sellers change the way the market operates. In embedded markets, transactions are not solely determined by price or supply and demand, but also by social networks, trust, and reputation. This type of market is common in small, tight-knit communities, where relationships are valued and play a significant role in economic transactions.

A(n) _____ Is a Market in Which the Social Relationships