Which of the Following Is Not a Characteristic of a Good

question 65

Multiple Choice

Which of the following is not a characteristic of a good market?

• A) central location
• B) quick and accurate trade execution
• C) low cost of trading
• D) all of the above are characteristics of a good market

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified period.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price within a specific time period.

Market Mechanism

The process through which supply and demand interact to determine prices and allocate resources efficiently in a market economy.

Equilibrium Quantity

The amount of products or services available meets the amount that consumers want to buy at the price point where supply and demand balance.