The arrangements that individuals have with each other to exchange goods is known as
A) demand.
B) supply.
C) a market.
D) complements.

Question

Quizplus · Accepted Answer

The arrangements that individuals have with each other to exchange goods is known as a market. A market is a place where buyers and sellers come together to exchange goods and services. The market can be physical or digital, and it can operate in various ways, such as through auctions, negotiations, or fixed prices. Demand and supply are two key concepts that operate within a market, but they do not wholly define the arrangement between individuals. Complements are goods that are consumed together, such as coffee and creamer, and are not related to the exchange of goods within a market.

The Arrangements That Individuals Have with Each Other to Exchange