What is the simple meaning of a market?
Answer and explanation
Correct answer: A place or system where buyers and sellers exchange goods or services
A market is a place or an arrangement in which buyers and sellers interact to exchange goods or services, usually for money. It may be a physical location, such as a shop or market yard, or a digital platform where transactions occur online. The other options do not describe buying, selling, or exchange, so option A is correct.
Frequently asked questions
What is the correct answer to this question?
A place or system where buyers and sellers exchange goods or services
Why is this the correct answer?
A market is a place or an arrangement in which buyers and sellers interact to exchange goods or services, usually for money. It may be a physical location, such as a shop or market yard, or a digital platform where transactions occur online. The other options do not describe buying, selling, or exchange, so option A is correct.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Internal Trade. Topic: Meaning and types of internal trade.
