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What does the 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

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Final answer:

Market value is the price a person is willing to pay for a product or service, indicating its market worth.


Explanation:

Market value refers to the price a person is willing to pay for a specific product or service, indicating its value in the market economy. It represents how much individuals perceive the worth of a particular good or service.


Learn more about Market value definition here:

https://brainly.com/question/37773123


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