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Question Practice

How do buyers and sellers determine a price in a market?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 7
Social Science
Exploring Society India and Be...
Understanding Markets
Question Bank

How do buyers and sellers dete...

Single Answer MCQ
Q-00130489

How do buyers and sellers determine a price in a market?

1

By agreeing on fixed prices set by the government

2

Through negotiation until a mutually acceptable price is reached

3

By following prices listed in newspapers

4

By charging whatever they feel is right

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Q1.

What term is used to refer to a place where buying and selling occurs?

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Q2.

Which of the following best describes a domestic market?

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Q3.

What do buyers and sellers negotiate to complete a transaction in a market?

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Q4.

What is a characteristic feature of modern online markets?

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