Question

Which of the following is true in case of a market except?

a. It brings buyers and sellers in contact

b. It is confined to a place

c. Its structure is determined by nature of commodity

d. It is shaped by technology​

Answer 1

Answer:

a,true

b,true

c,true

d,false

Answer 2

The true statement is Its structure is determined by the nature of the commodity

• The structure describes the way how various sectors are divided and distinguished based on the extent and character of rivalry for services and commodities.
• The characteristics of a product properly establish the market structure to which it belongs.
• For example: A perfectly competitive market exists when the items supplied by various vendors are homogeneous.
• It establishes a monopoly in the market if it is unique and has no replacement.

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