Markets are best defined as
A) arrangements where buyers and sellers get together to buy and sell.
B) specific geographic locations where people get together to buy and sell.
C) hypothetical constructs used to analyze how people form their tastes and preferences.
D) places where people can inspect goods and services carefully.

Question

Quizplus · Accepted Answer

Markets are broadly defined as arrangements or systems where buyers and sellers interact to exchange goods and services. This definition does not limit markets to physical locations or specific geographic areas, nor does it restrict them to places for inspecting goods or hypothetical constructs for analyzing tastes and preferences.

Markets Are Best Defined as