What does market value of a good or service mean

Asked by maham237 @ in Business viewed by 302 People

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

Answered by maham237 @


In this case D would be the correct answer. In our free market economy, or capitalism, the price is set dynamically by the supply and demand curve for a product. If more people want to buy a product, the higher the price can be. On the other hand if a product costs to much, people won't want to buy it and the company could end up making too much of it.

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