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a market for a particular good or service is made up of the total number of customers and potential customers, as well as sellers for that particular good or service.it can be measured by total number of sales or by the value of the sales for that good or service by all suppliers to that particular good o service. these markets can either be niche markets or mass markets.
Wiki User
∙ 6y ago
Wiki User
∙ 12y agoan arrangement that allows buyers and sellers to exchange things
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What is the definition of Adam smith about economics?
economics is the study of wealth
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
What is the study of economics called?
in a market economy, a high price is a signal for?
Why is lord robbins definition the most acceptable definition of economics?
It study Human behaviour "wants and scarcity"
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
In the study of economics the definition of a market is?
an arrangement that allows buyers and sellers to exchange things
What is the definition of Adam smith about economics?
economics is the study of wealth
Justify why it is important to study economics?
It is important to study economics so that you understand the market. You need to understand why you pay what you do for the things you value.
What is the study of economics called?
in a market economy, a high price is a signal for?
Why is lord robbins definition the most acceptable definition of economics?
It study Human behaviour "wants and scarcity"
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
Definition of economics by William nordhaus?
William NOrdhaus defined economics as the study of how individual and society choose to use scarce resources.
What is the definition of economics by Prof L Robbins?
economics is the study of human behaviors as a relation between ends and scarce resources that have alternative uses.
Why is Lord Robbins definition of economics is the most acceptable?
It study Human behaviour "wants and scarcity"
How do economics study human behavior?
Behavioral economics is the study of the effects of social, emotional, and cognitive factors on the economic decisions of people and companies. It also studies how market decisions are made.
What one means by business economics?
bisiness economics is the study of business related problems using economic techniqes like the study of market knowing the degree of competion prevailing in the market with the help of market structure techniques, the other example can be of the study of deamnd and supply forces. mostly micro econmics is regarded as business economics. it provides solution to basic problems of how to use scarce resource for unlimted wants.
What do you study in Economics in VCE?
The Australian Market system and basic economic concepts such as demand and supply.
