Which of the Following Statements About a Market Is True

question 24

Multiple Choice

Which of the following statements about a market is true?

• A) It is not necessary for the market to have a physical location.
• B) The market does not necessarily own the goods or services involved.
• C) A market can deal in any variety of goods and services.
• D) All of the above
• E) None of the above

---

Definitions:

Resell

The act of selling a product or service that one has purchased to another buyer, often to achieve a profit or dispose of unwanted goods.

Central Processing Units

The primary component of a computer that performs most of the processing inside a computer to execute instructions from both hardware and software.

Systems Competition

A form of competition that occurs not just between individual products or services, but between entire systems or platforms.

Network Externalities

The effect that one user of a product or service has on the value of that product to other people, often positive, where the value increases as more people use it.