An arrangement where buyers and sellers of a commodity are in close contact with each other to buy and sells goods. What is it called?
Supply
Income
Market
Cost
Answers
Answer:
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Answer:
An arrangement where buyers and sellers of a commodity are in close contact with each other to buy and seed goods is called a market.
Explanation:
A market is ideally a place where buyers and sellers choose to meet in order to facilitate the exchange or adequate transaction of goods and services.
In Economics however, the specific term “Market” does not only refer to a particular existing place but to the specific commodity or multiple commodities.