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When economists describe "a market," they mean A
When economists describe "a market," they mean
A. a place where stocks and bonds are traded.
B. a communication network that allows individuals to keep in touch with each other.
C. a hypothetical place where the production of goods and services takes place.
D. a system that allows buyers and sellers to interact with one another.
Expert Solution
Correct Option: D. a system that allows buyers and sellers to interact with one another.
Explanation: Any system that helps in bring down buyers and sellers to a platform where they can trade the desired product is known as the market.
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