A market is best described as people or organizations that have which of the following?
A)money to pay for a service
B)a medium of exchange and products they desire
C)needs and wants, ability, and willingness to buy
D)communication, financial, and capital resources

Question

Quizplus · Accepted Answer

A market is a group of individuals or organizations who have needs and wants, the ability to purchase goods or services, and the willingness to pay for them. Money (choice A) and a medium of exchange (choice B) are important components of a market, but they are not the defining characteristics. Choice D is incorrect as it mentions communication, financial, and capital resources, which while important, are not requirements for individuals or organizations to be considered part of a market.

A Market Is Best Described as People or Organizations That