The given statement "A businessman purchases flowers for his wife on the way home from work. The man purchased the flowers in a product market" is true.
Answer: Option A
Explanation:
A product market is a market where final goods and services are sold to the final consumers, who are the public or business firms. In this market there is no consideration of intermediate consumption or intermediate products.
However this is a relative term. A product can be final product to one person and it could be a final product to another. A product market may not be limited to one spot and sometimes the government can intervene to make it a restricted or a free market.
