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Questions and Answers
Which group determines the demand for a product in a market?
Which group determines the demand for a product in a market?
- Sellers
- Buyers (correct)
- Both buyers and sellers
- Auctioneers
What is a market?
What is a market?
- A highly organized market for agricultural commodities
- A group of buyers and sellers of a particular good or service (correct)
- A specific time and place where buyers and sellers meet
- An auction facilitated by an auctioneer
What does an auctioneer do in a market?
What does an auctioneer do in a market?
- Find the price that brings buyers and sellers into balance
- Keep order and arrange sales (correct)
- Determine the demand and supply
- Set the prices for buyers and sellers
In which type of market do buyers and sellers meet at a specific time and place?
In which type of market do buyers and sellers meet at a specific time and place?
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Who determines the supply of a product in a market?
Who determines the supply of a product in a market?
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