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Question
Why can an online book platform be called a market in economics?
Options
Because books are cheap there
Because it is open 24 hours
Because buyers and sellers meet physically every day
Because it allows buyers and sellers in different places to see the same price and complete the exchange
MCQ
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Solution
Because it allows buyers and sellers in different places to see the same price and complete the exchange
Explanation:
Even without a common physical place, an online platform is a market because it connects buyers and sellers, shows a common price, and enables transactions.
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