Question

Which among the statements about market is not correct?

• A. Money is used for transactions in a market.
• B. Markets are where only large quantities of items are sold and purchased.
• C. Wholesale market and retail market are the two types of markets.
• D. Markets have been existent since ancient times.

Answer 1

The correct option is B Markets are where only large quantities of items are sold and purchased.

Markets are the place where one can sell or purchase any quantity of items, large or small. There is no set criterion on how much has to be sold and purchased for a market.