What 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 refers to a group of buyers and sellers of a product and the arrangement by which they come together to trade is the market. A market can exist in a physical location, such as a grocery store, or in a virtual space, such as an online platform for buying and selling goods. Both buyers and sellers participate in the market to exchange goods and services.

What Term in Economics Refers to a Group of Buyers