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Question
State whether the following statement is true or false:
The term market is derived from the Latin word ‘Mercatus’.
Options
True
False
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Solution
This statement is true.
Explanation:
The term market is derived from the Latin word ‘Mercatus’, which means ‘to trade’, ‘to trade merchandise’ or ‘a place where business is transacted’. In simple words, a market is a place where two or more parties are involved in buying and selling.
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