Question

The marketplace is the essence of which of the following?

O The exchange process
O The manufacturing process
O The marketing process
The selling process

Answer 1

The exchange process.

Step-by-step explanation:

An exchange process can be defined as an act in which customers acquire a desired product or service from a seller (manufacturer, wholesaler, or retailer) with a tangible asset in return for value.

The marketplace where these products or services are being offered to the customers in return for value is the essence of the exchange process.

This ultimately implies that, a marketplace facilitates or enhances the exchange process by offering a channel to buy and sell products.