Author Question: Today there are two fundamentally different types of markets. What are they? a. Markets that use ... (Read 101 times)

geodog55 · **on:** Jul 10, 2018

Today there are two fundamentally different types of markets. What are they?

a. Markets that use standardized money and those that include barter
b. Geographically-bounded markets and those open via websites (Internet)
c. Markets that focus on foodstuffs and markets that focus on services
d. Urban markets and rural markets
e. Markets that incur taxation and those that are informal

Question 2

What is the major prerequisite of market exchange?

a. The value of a good is based on supply and demand.
b. Exchange is based on currency.
c. Exchange occurs within a commercial environment.
d. Goods and services are culturally relevant.
e. Distribution occurs among a minimum of two parties.