Question

Market is the sum total of all the potential and actual buyers of a product. Define wi
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Answer 1

Yes, Market is the sum of all the potential and actual buyers of a product

Explanation:

• When we talk about the market for a particular product, we see all the possible targetted audience

• We design a product keeping in mind that the audience

• This audience can be either the already established customers that are using the product or similar product or the customers that will be buying the product in future

• The customers that are likely to buy the product in the future are known as potential customers

• So, when we use the term market, we consider both of these customers, saying that the market is a sum of both these customers

Learn more about the definition of market and its types from the link below

https://brainly.in/question/7641890

Answer 2

Explanation:

A simple definition of market is that it is a place where people come for buying or selling of their goods and products. A more technical meaning of market is that it is the place where we find the actual buyers as well as the potential or possible buyers of a product or products.

Market is generally seen as the sum of both, because every potential buyer will become an actual buyer once he has the power to purchase that item, hecne both should be considered