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- The concept of a market can be described as follows12:
- A market is where buyers and sellers meet to exchange goods and services.
- Markets can be physical (like retail outlets) or virtual (like e-retailers).
- Examples include illegal markets, auction markets, and financial markets.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A market is where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical, like a retail outlet, or virtual, like an e-retailer. Examples include illegal markets, auction markets, and financial markets.www.investopedia.com/terms/m/market.aspEconomists will describe a market as coming together of the buyers and sellers, i.e. an arrangement where buyers and sellers come in direct or indirect contact to sell/buy goods and services. For example, the market for mobile will constitute all the sellers and buyers of mobile phones in an economy.www.toppr.com/guides/business-economics/meani… - People also ask
Market: What It Means in Economics, Types, and Common Features
A market is a place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical, like a retail outlet, where people meet face-to-face, or virtual, like an online market, where there is no physical presence or contact … See more
A market is any place where two or more parties can meet to engage in an economic transaction—even those that don't involve legal tender. A market transaction may … See more
Markets vary widely for several reasons, including the kinds of products sold, location, duration, and size. The constituency of the customer base, size, legality, and other factors are equally influential. Aside … See more
Markets are an important part of the economy. They allow a space where governments, businesses, and individuals can buy and sell their goods and services. But that's not all. … See more
Other than underground markets, most markets are subject to rules and regulations set by governing body that determines the market’s nature. This may be the case when the regulation is as wide-reaching and … See more
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