In economics, the term ________ 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 "market." A market can refer to a physical location where trading takes place, or it can refer to a virtual space where buyers and sellers come together through technology. Options A, B, and D are not accurate descriptions of a market.

In Economics, the Term ________ Refers to a Group of Buyers