Question

Besides a place of exchange, which uses of the term market are identified?

Options

• Needs, wants, customer value and repeat sales

• Product markets, geographic markets, type of buyers and quantity of goods transacted

• Packaging, warehousing, transportation and branding

• Humanitarian activities and long-term social welfare

Answer 1

The term market is also used for product markets and geographic markets. It can refer to type of buyers and quantity of goods transacted as well.