The term ________ in economics refers to a group of buyers and sellers of a product and the arrangement by which they come together to trade.
A) collective
B) cooperative
C) market
D) trade-off

Question

Quizplus · Accepted Answer

The term that fits the description given in the question is "market". A market is where buyers and sellers come together to exchange goods and services. The other answer choices, such as "collective" and "cooperative", do not accurately describe the concept of a market in economics. "Trade-off" is a related concept, but it does not refer specifically to the arrangement by which buyers and sellers come together.

The Term ________ in Economics Refers to a Group of Buyers