A market is an institution where buyers and sellers interact. While a market can refer to a physical location where transactions take place, it can also refer to a virtual or electronic space where trading occurs. Markets do not necessarily entail the legislating of prices, as prices are typically determined by supply and demand.

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A Market Is A

Question 15

Multiple Choice

A market is a:

A) marketplace
B) physical location where buyers and sellers interact
C) institution where buyers and sellers interact
D) institution where prices are legislated

Correct Answer: