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Which of the Following Is TRUE Regarding Markets

question 384

Multiple Choice

Which of the following is TRUE regarding markets?
I. Economists define a market as a geographic location where trade occurs.
II. A market enables buyers and sellers to get information about each other and to buy and sell fro each other.
III. Markets coordinate decisions through prices.


Definitions:

Human Resources

The physical and mental abilities that people use to produce goods and services; also called labor.

Brokerage Firm

A financial institution that facilitates the buying and selling of financial securities between a buyer and a seller.

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