According to economists, which of the following is the best example of a market? Select one: a. The local shopping mall b. The trading floor of the New York Stock Exchange c. The retail market for winter coats in Chicago d. A flea market
The retail market for winter coats in Chicago is considered as
the best example of a market by the economists
This is because retail markets are those markets that are
involved in direct transactions with their customers.
They sell their goods and services directly to their customers
rather than selling them to other firms or businesses.
The retailers supply their goods to their customers to satisfy
their demands and to earn higher profits by selling them through
multiple transaction channels.