A collection of buyers and sellers of the same good and service is called:
A) an economy.
B) ceteris paribus.
C) a model.
D) a market.

Name: A collection of buyers and sellers of the same good and service is called: A) an economy. B) ceteris paribus. C) a model. D) a market.
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Question

Quizplus · Accepted Answer

A market is defined as a collection of buyers and sellers of the same good or service, where they come together to trade, leading to the establishment of prices and quantities exchanged.

A Collection of Buyers and Sellers of the Same Good