A Group of Buyers and Sellers of a Particular Good

question 145

Short Answer

A group of buyers and sellers of a particular good or service is called a

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Definitions:

Legal Right

A legal right is an entitlement that is protected by law, giving the holder the ability to perform or refrain from certain actions.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at reaching agreements that regulate working conditions.

Public Employees

Individuals who work for government bodies at the federal, state, or local level, contributing to the administration and implementation of public services and policies.

Private-sector Counterparts

Refers to organizations and businesses in the non-public sector that correspond or are equivalent to entities in the public sector.