Most modern financial centers use computers to match buyers and sellers. This absence of personal contact contradicts the definition of a market
Indicate whether the statement is true or false
False. Buyers and sellers need not meet during a market transaction since a market is not tied to a particular location.
Economics
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A retirement system in which the benefits government pays to retirees are paid out of the contributions those retirees make during their working years is called a
A) pay-as-you-go system. B) fully funded system. C) pension plan. D) deferred retirement system.
Economics
Graphically, the area that represents the difference between the maximum price consumers were willing to pay for a good and the market price is called
a. consumer surplus. b. producer surplus. c. marginal cost. d. triangular arbitrage.
Economics