A place where agents can go and exchange one good for another at a fixed price is called a
A) market
B) trading pit
C) fair

Question

Quizplus · Accepted Answer

A market is a place where buyers and sellers come together to exchange goods at a fixed price. This can include physical locations like a marketplace or online platforms like e-commerce websites. Trading pits typically refer to specific areas within a market where certain types of commodities or securities are traded. Fairs are events where vendors showcase and sell their goods, but typically do not involve fixed prices or exchange of goods between agents.

A Place Where Agents Can Go and Exchange One Good