The market value of a good or service is the:
A) price at which the good or service is bought and sold.
B) government's valuation of the good or service using the CPI.
C) price at which producers are willing to sell the good or service.
D) None of these are true.

Question

Quizplus · Accepted Answer

The market value of a good or service is determined by the price at which it is bought and sold in the market. This price is determined by the interaction of supply and demand and reflects the value that consumers place on the good or service.

The Market Value of a Good or Service Is The