BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
where you can buy new dresses
|
|
|
where you can text people back and fourth
|
|
|
where you go to draw out money
|
|
|
where buyers and sellers exchange any types of goods, services and information
|
Detailed explanation-1: -Key Takeaways. A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer. Other examples include illegal markets, auction markets, and financial markets.
Detailed explanation-2: -Economic market structures can be grouped into four categories: perfect competition, monopolistic competition, oligopoly, and monopoly.
Detailed explanation-3: -A market is a medium which facilitates the exchange of goods and services between buyers and sellers. A market can be physical or virtual and is defined by the different goods and services exchanged in it.
Detailed explanation-4: -Depending on their characteristics, markets can be classed as perfectly competitive, imperfectly competitive, or monopolistic.