Question

(3) Karan sold 1500 kg of cotton in the market.
identify concept economy​

Answer 1

The correct answer is the buyer-seller concept.

• Here in the given question, it has been said that Karan had sold 1,500 kgs of cotton in the market but it has not been mentioned whether he took money or he took any other commodity against the thing that he had sold.
• As in Economics we know whenever there is a buying and selling activity there has to be a transaction between the buyer and the seller.
• This is what is known as the buyer-seller concept in the subject of economics.
• Hence, the correct concept is the buyer-seller concept.