In microeconomics, we define a "market" as

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    A collection of buyers and sellers that come together and determine the price of products or services through their interaction, or their potential for interaction.
     A store, collection of stores or market area where goods and services are physically exchanged.
     A collection of firms that sell the same or closely related products.
     An organized exchange where trades are conducted and recorded, such as the New York Stock Exchange, London Metal Exchange, or the New York Mercantile Exchange.
asked May 30, 2013 in Economics by anonymous
    

1 Answer

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A collection of buyers and sellers that come together and determine the price of products or services through their interaction, or their potential for interaction.
answered May 31, 2013 by Xyz ~Expert~ (3,650 points)



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