Which of the Following Best Describes the Concept of a Market

question 57

Multiple Choice

Which of the following best describes the concept of a market?

• A)the demand that exists among potential customers for a product
• B)the collection of suppliers and their goods and services
• C)the sum total of customers and customer demand for a category of product or service
• D)a place where a supply can be sold to those who wish to purchase it

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Definitions:

Tax Deductible

Refers to eligible expenses that can be subtracted from taxable income, thereby reducing the total amount of tax owed to the government.

Discount

A reduction in the price of a good or service, typically to encourage purchase.

Cash Interest

The actual amount of interest paid in cash by a borrower during a given period for the use of borrowed funds.