Final answer:
The types of buyers a business wishes to attract and their geographical location is known as the market. The market is an arrangement that connects sellers and buyers for economic transactions in a globalized and technologically advanced world.
Step-by-step explanation:
The types of buyers a business wishes to attract and where those buyers are located is known as the market. The market is an arrangement that brings sellers and buyers together for economic transactions. In today's globalized and technologically advanced world, the market has expanded beyond local boundaries, allowing buyers and sellers from anywhere in the world to connect and transact.