Question

3
select the correct answer.
what does market value of a good or service mean?
a. loss incurred on a good or service
b. profit incurred on a good or service
c. cost of producing a good or service
d. current price of a good or service

Explanation:

Market value refers to the current price at which a good or service can be sold in the market. Loss (A) is the negative difference between cost and revenue. Profit (B) is the positive difference. Cost of production (C) is the expense to make the good/service. But market value is about the current price in the marketplace.

Answer:

D. current price of a good or service