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  3. There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informa

There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informa

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问题     There are two general ways in which the term "market" is used in economics. First, a market is thought of as a formal or informal organization of buyers and sellers who conduct trades in particular commodities or services. The market may be located at a geographical meeting place, such as your friendly neighborhood bookstore or shopping center(a retail market). A market may be organized over wide areas connected through phones or computer terminals. Although the trading room of the New York Stock Exchange is located in New York City, buyers and sellers who actively participate in this market may conduct their trades from distant locations. This description is the institutional way of looking at a market.
    The second meaning of the word "market" is used in formal economic models. Here the equations that explain the demand and supply of a commodity such as money are sometimes grouped together. The reasons for supplying and holding money are thought to be specific enough to warrant separate equations. This is an abstract way to think of the money market.
    New financial assets are traded in primary markets. Financial assets that are resold are waded in secondary markets. Firms that specialize in trading either new or reissued financial assets are called primary secondary dealers, respectively.
A market may also be virtual, which is connected by phones on Internet.
选项 A、Right
B、Wrong
C、Doesn’t say
答案A
解析 第一段第四句指出A market may he organized over wide areas connected through phonesor computer terminals，通过电话和电脑终端方式运行的市场就是虚拟(virtual)市场。
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