A market is analyzed in economics as a situation where
A) both buyers and sellers benefit by making voluntary exchanges.
B) sellers benefit but buyers do not.
C) government determines the product prices that sellers charge and buyers pay.
D) buyers benefit but sellers do not.
E) neither buyers nor sellers benefit by making voluntary exchanges.

Question

Quizplus · Accepted Answer

Buyers and sellers are each self-interested and rational decision-makers who enter markets to conduct mutually-acceptable transactions.

A Market Is Analyzed in Economics as a Situation Where