The term lsquo market rsquo may be understood in which of the following contexts ........

The term ‘market’ may be understood in which of the following contexts?

Geographical area covered

Type of buyers

Quantity of goods transacted

All of the above

- Option 1: Geographical area covered

Markets can be defined by geographical boundaries, like local, national, or international markets.

- Option 2: Type of buyers

Markets can also be categorized based on the type of buyers, such as consumer markets and business markets.

- Option 3: Quantity of goods transacted

Sometimes markets are described by the volume of transactions, like high-volume or low-volume markets.

- Option 4: All of the above

The term ‘market’ can indeed encompass all the above aspects: geographical coverage, buyer type, and transaction volume.

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