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- In economics, a market is123:
- A coordinating mechanism that uses prices to convey information among economic entities (such as firms, households, and individuals) to regulate production and distribution.
- Any place where two or more parties can meet to engage in an economic transaction.
- An arrangement between buyers and sellers to exchange goods or services for money.
- Essential to the operation of the price mechanism in allocating scarce resources.
- A fundamental means by which goods and services are produced and exchanged in a market economy4.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.In economics, a market is a coordinating mechanism that uses prices to convey information among economic entities (such as firms, households and individuals) to regulate production and distribution.en.wikipedia.org/wiki/Market_(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.www.investopedia.com/terms/m/market.aspA market is an arrangement between buyers and sellers to exchange goods or services for money. Markets are the fundamental means by which scarce resources are allocated a price, and are essential to the operation of the price mechanism. Markets form under certain conditions, and where these conditions are not met markets struggle to form.www.economicsonline.co.uk/definitions/market.html/A market economy is an monetary system where two forces, supply and demand, direct the production of goods and services.www.nationalgeographic.org/encyclopedia/market-… - People also ask
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Disciplines such as sociology, economic history, economic geography and marketing developed novel understandings of markets studying actual existing markets made up of persons interacting in diverse ways in contrast to an abstract and all-encompassing concepts of "the market". The term "the market" is generally used in two ways:
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