Which of the following explains a 'market' the best?
A
Forum that decides the price of a product.
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B
Place where transactions are made exclusively.
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C
Place where goods are sold and bought.
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D
Forum that sanctions the quality of a product.
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Solution
The correct option is C Place where goods are sold and bought. A market is a place where goods are sold and bought. Traditionally, a market is a physical place where buyers and sellers gathered to buy and sell the goods.