Which of the Following Statements About Markets Is Not True

question 60

Multiple Choice

Which of the following statements about markets is not true?

• A)Markets necessarily have a physical location.
• B)Markets have both a demand side and a supply side.
• C)The two types of markets include the factor and product markets.
• D)Every market transaction involves an exchange of money for goods or resources or a direct exchange of goods or resources without money called barter.

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Definitions:

Absolute Threshold

The smallest quantity of physical energy that can be reliably detected by an observer.

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Suppress Dissension

The act of preventing or reducing disagreement or opposition, typically within a group or organization.

Deindividuation

A psychological state characterized by diminished self-consciousness, reduced social identity, and disinhibited behavior, often occurring in group settings.