A market: a. reflects upsloping demand and downsloping supply curves. b. always requires face-to-face contact between buyer and seller. c. is an institution that brings together buyers and sellers. d. entails the exchange of goods, but not services.

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Business

Cedric Fry

18 July, 16:28

A market: a. reflects upsloping demand and downsloping supply curves. b. always requires face-to-face contact between buyer and seller. c. is an institution that brings together buyers and sellers. d. entails the exchange of goods, but not services.

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Steve Cruz · Answer 1

c. is an institution that brings together buyers and sellers.

Explanation:

A market: is an institution that brings together buyers and sellers.

In mainstream economics, the concept of a market is any structure that allows buyers and sellers to exchange any type of goods, services and information. The exchange of goods or services, with or without money, is a transaction.

Furthermore it can be said to be any place where sellers of particular goods or services can meet with buyers of those goods and services by creating the potential for a transaction to take place.