Question

A market is an arrangement that brings _____ together and enables them to get information and do business with each other.

1) governments and producers
2) central banks and commercial banks
3) sellers and entrepreneurs
4) buyers and sellers

Answer 1

A market is an arrangement that brings buyers and sellers together, enabling them to exchange goods and services. Prices in a market economy serve as a mechanism to collect and transmit information between buyers and sellers. Buyers and sellers can engage in economic transactions and exchange goods or services through the market.

Step-by-step explanation:

A market is an arrangement that brings buyers and sellers together and enables them to get information and do business with each other. In a market economy, prices serve as a mechanism for collecting and transmitting information between buyers and sellers. Prices reflect the relationship between demand and supply, and convey this information to participants in the market. Through this arrangement, buyers and sellers can engage in economic transactions and exchange goods or services.