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From an economic perspective which of the following are true of a market:

a. It is a virtual and/or physical institution or space.
b. The pursuit of buyers and sellers in making themselves better off.
c. Buyers and sellers interact in their desire to buy and sell a good or service.

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Alice Sejake
Alice SejakeLv10
18 Nov 2020

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Related questions

1. In a competitive market, the quantity of a product produced and the price of the product are determined by

a. buyers.

b. sellers.

c. both buyers and sellers.

d. None of the above is correct.

 

2. Which of the following statements is correct?

a. Buyers determine supply and sellers determine demand.

b. Buyers determine demand and sellers determine supply.

c. Buyers determine both demand and supply

d. Sellers determine both demand and supply

 

3. The demand for a good or service is determined by

a. those who buy the good or service

b. the government.

c. those who sell the good or service.

d. both those who buy and those who sell the good or service.

 

4. An increase in supply is represented by

a. a movement downward and to the left along a supply curve.

b. a movement upward and to the right along a supply curve.

c. a rightward shift of a supply curve.

d. a leftward shift of a supply curve

From an economic context, select the correct definition of a market.
 
a. a place where groceries and other household items are bought and sold

b. an institution where stocks or bonds are purchased

c. the process of using advertising to convince potential buyers to purchase a product

d. an institution that brings together buyers and sellers of goods or services

Which of the following statements is true about a competitive market?

a) A competitive market must have a physical location.
 
b) It has so many buyers and sellers that no one can influence the price.
 
c) It includes markets for goods and services but not for inputs.
 
d) It has a handful of sellers but always has many buyers.
 
e) It has one seller competing to sell his or her product.

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