ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market
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Partnership
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Specialization
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Command Economy
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Detailed explanation-1: -A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services.
Detailed explanation-2: -Markets are where buyers and sellers come together to obtain information and exchange commodities. A commodity is something tangible, that has value and can be exchanged.
Detailed explanation-3: -Trade refers to the voluntary exchange of goods or services between economic actors. Since transactions are consensual, trade is generally considered to benefit both parties.
Detailed explanation-4: -market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions.
Detailed explanation-5: -trade. the voluntary exchange of goods and services between two or more parties (page 17)