The correct response is:
the exchange process between buyers and sellers.
This definition captures the essence of what is typically referred to as "the market" in economic terms.
Caleb overhears his dad on a business call mentioning “the market” several times. When his dad hangs up, Caleb asks him if he is going to the store. Caleb’s dad laughs and explains that he was not talking about that kind of market, he was talking about the economic market. He goes on to explain that the market is:
(1 point)
Responses
the value of all services sold within a year.
the value of all services sold within a year.
the exchange process between buyers and sellers.
the exchange process between buyers and sellers.
the voluntary donation of blood to blood banks.
the voluntary donation of blood to blood banks.
the percentage of the labor force that is unemployed and actively seeking work.
1 answer