When economists describe "a market," they mean

Question

Quizplus · Accepted Answer

A market is a system that facilitates the interaction between buyers and sellers of goods and services. This interaction can occur in various forms, including physical locations, online platforms, or through intermediaries such as brokers or agents. The key feature of a market is the exchange of goods or services for a price that reflects the supply and demand of those goods or services. Therefore, option D is the most accurate description of a market. Options A, B, and C are all narrower definitions that do not capture the full range of activities that occur in a market.

When Economists Describe "A Market," They Mean