According to Economists,which of the Following Is the Best Example

question 3

Multiple Choice

According to economists,which of the following is the best example of a market?

• A) A flea market
• B) The trading floor of the New York Stock Exchange
• C) The local shopping mall
• D) The retail market for winter coats in Nunavut

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Definitions:

Goods

Items that are manufactured or produced for sale.

Shipped

The act of sending or transporting goods from one place to another, typically referring to the movement of merchandise after a sale.

Implied Warranty

An unwritten and unspoken guarantee that a product or service meets the minimum quality and functionality standards, assumed in a sale.

Fitness for a Particular Purpose

An assurance that a product will meet the requirements of a specific use for which the buyer informs the seller, implied in a sale under the Uniform Commercial Code.