GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A form of business that declares the business as a separate, legal organization led by a group of officers known as the board of directors; often owned by stockholders
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place where goods and services are bought and sold for a price
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the study of how people make things, and trade wealth, with limited resources
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A business owned by one person
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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. 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: -Companies use online marketplaces to reach customers who want to purchase their products and services. Examples of online marketplaces include Amazon, eBay, and Craigslist.
Detailed explanation-3: -In an online marketplace, consumer transactions are processed by the marketplace operator and then delivered and fulfilled by the participating retailers or wholesalers. These type of websites allow users to register and sell single items to many items for a “post-selling” fee.