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  2. The concept of a market1234:
    • A place where two or more parties engage in economic transactions.
    • Transactions can involve goods, services, information, or currency.
    • Markets can be local, regional, national, or international.
    • Not restricted to one physical or geographical location.
    Learn 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 include goods, services, information, currency, or any combination that passes from one party to another.
    www.investopedia.com/terms/m/market.asp
    market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions. Markets in the most literal and immediate sense are places in which things are bought and sold.
    www.britannica.com/money/market
    In economics, market is defined as a set of buyers and sellers who are geographically separated from each other, but are still able to communicate to finalize the transaction of a product. The market for a product can be local, regional, national, or international.
    www.economicsdiscussion.net/market/market-conc…
    In economics, the term market will refer to the market for one commodity or a set of commodities. For example a market for coffee, a market for rice, a market for TV’s, etc. A market is also not restricted to one physical or geographical location. It covers a general wide area and the demand and supply forces of the region.
    www.toppr.com/guides/business-economics/meani…
     
  3. People also ask
    What is a market in economics?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 include goods, services, information, currency, or any combination that passes from one party to another. In short, markets are arenas in which buyers and sellers can gather and interact.
    What is a market and how does it work?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 between buyers and sellers.
    What are the features of a market?Markets establish the prices of goods and services, determined by supply and demand. Features of a market include the availability of an arena, buyers and sellers, and a commodity. 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.
    How do economists describe a market?Economists 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.
     
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