Question

identify and explain the concept

Karan sold 1500 kg of cotton in the market.

Answer 1

Answer:

What does it mean? sorry i can't help you in the question.

Answer 2

Karan sold 1500 kg of cotton in the market.

This is an instance of the buyer-seller concept.

• Here in the given question, we are said that Karan had sold 1,500 kgs of cotton in the market but it has not been stated in the question whether he took money in return of the cotton or he took any other commodity against the item that he had sold.
• According to the concepts of Economics, we know every time there is a buying and selling activity there has to be a transaction between the buyer and the seller.
• This is what is called as the buyer-seller concept in the subject of economics.
• Karan is the seller in the question in consideration and the people in the market are the buyers.

Hence, the correct answer is the buyer-seller concept.

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