Defining a market involves deciding how to view
A) equilibrium supply and demand
B) normative economic analysis
C) the thing being traded,the decision makers,and the trading environment
D) suppliers,demanders,shortages,and surpluses
E) excess demand and excess supply

Question

Quizplus · Accepted Answer

Defining a market involves considering the thing being traded (such as goods, services, or resources), the decision makers (such as buyers and sellers), and the trading environment (such as laws and regulations, competition, and market dynamics). It's not just about supply and demand or the presence of shortages or surpluses. Nor is it only about normative analysis, which involves making subjective value judgments about what ought to be rather than describing what is.

Defining a Market Involves Deciding How to View