What is a free market which no buyer or seller has power to significantly affect prices at which goods are exchanged?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1. What is a free market which no buyer or seller has power to significantly affect prices at which goods are exchanged?

2. What is the discrimination that is the result of the actions of all or many of the people in an institution and of their routine processess and policies?

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Dear students, as per the guidelines, we are allowed to solve only the first question in case of multiple questions are asked. If you want us to answer any specific part, kindly post that separately. 

 

1. A market can be defined as a place that allows people (buyer and seller) to come together to exchange goods and services in return for some consideration (money). Simply put, a market is a place that allows people to sell and buy goods and services in exchange for money. 

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