Which of the following is true of markets?
A) All sellers in a market must be located in the same geographic area.
B) Buyers are best served when sellers try to produce all goods.
C) They include only legal goods.
D) They are a collection of buyers and sellers of the same good or service.

Question

Quizplus · Accepted Answer

Markets are defined by the interaction of buyers and sellers for a particular good or service, not by their geographic location, the legality of goods, or sellers producing all types of goods.

Which of the Following Is True of Markets