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- A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services12. Markets can be physical, like a retail outlet, or virtual, like an e-retailer1. Examples include illegal markets, auction markets, and financial markets1. Markets establish the prices of goods and services, determined by supply and demand1. To constitute a market, there must be a group of buyers and sellers of the commodity, and both the sellers and buyers must have access to knowledge about the market2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Key Takeaways
- 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.
www.investopedia.com/terms/m/market.asp- In economics, the term market will refer to the market for one commodity or a set of commodities. ...
- A market is also not restricted to one physical or geographical location. ...
www.toppr.com/guides/business-economics/meani… - People also ask
- Before launching your business, schedule some time to compile information about your competitors, potential customers, and the industry or sector you are entering. …
- Before writing a market description, be aware of the “iceberg principle.” The majority of the iceberg is underwater. This represents your research time a… See more
- Overview what your business does.
- Share with your reader the purpose of your business. Explain its basic tasks or services. Write what sets …
- For example, "Petra’s Pick Up a… See more
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