Question

In​ Guadalajara, Mexico, Mercado LibertaddashSan Juan de Dios is a​ vast, crowded, bustling array of booths and vendors selling everything from shoes and fruit to saddles and motorbikes. In a larger​ sense, the entire economy of Mexico is much like Mercado LibertaddashSan Juan de​ Dios, with people buying and selling constantly. Both of these are examples of​ ____________.

A.
a planned economy
B.
privatization
C.
a market
D.
communism
E.
socialism

Answer 1

Answer: C. a market

A market refers to place where buyers and sellers of various goods or commodities interact with each other in order to trade various goods, services and even contracts for money or for barter.

Buyers and sellers may interact with each either directly or through other intermediaries like dealers or retailers.

A market may be an actual physical place or a virtual market place.