the term market may be understood in which of rhe following context
(a) geographical area covered
(b) type of buyer
(c) quantity of goods transacted
(d) all of above
Answers
Answer:
Hi
Explanation:
Option D is right answer
the term market may be understood in which of rhe following context
(a) geographical area covered
(b) type of buyer
(c) quantity of goods transacted
(d) all of above
The Correct Option is...
✔ (d) all of above
Explanation ⦂
Market refers to some geographical area, which has many types of buyers and sellers.
The market is an area where transactions are processed. Transaction refers to the transaction of goods and money.
The buyer has purchased an item from the seller by paying money. The objective of the buyer is the fulfilment and satisfaction of his needs. Whereas the purpose of the seller is to earn a profit, and he sells an article to the buyer so that he sells the item to the buyer and makes a profit by putting a fair margin price on the fair price of the item at which he has brought it.
Therefore, a market is a geographical area where business activities are carried out. While there are many types of buyers, there are also many types of sellers, who sell their goods. The desired buyer buys that item according to his need, in return he provides money to the seller.
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