Exploring Economics
8th Edition
ISBN: 9781544336312
Author: Sexton
Publisher: Cengage
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Question
Chapter 4, Problem 1P
To determine
Whether the market for laptop computers is local, national or global.
Expert Solution & Answer
Explanation of Solution
The market for laptop computers would be considered as the global market. It is because the manufacturers of laptop computers deals with the dealers across the world. The transportation costs are less in comparison to the cost and price of laptop computers. The retailers in this market are rational because they can easily get the information about the prices and quantity of the laptop computers.
Economics Concept Introduction
Concept Introduction:
Local Market: It is the market where the buyers and sellers deals with each other under the geographical area only. National Market: It is the market where the buyers and sellers decides to trade with each other across the country. Global Market: It is the market where the buyers and sellers are willing to transact anywhere in the world.
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