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  2. 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.asp
     
  3. People also ask
    What is a market economy?A market economy is an economic system where certain decisions are determined by the market rather than by the government. It may also refer to a collection of people who wish to buy or sell a specific product or service in a particular place or industry.
    What is a market economic system?A market economic system is the opposite of a command economy. In a market economy, prices for goods and services are determined by supply and demand, and the means of production are privately owned.
    How does a market work?While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established.
    How does a market economy function?In a market economy, stores like the Gap in Costa Mesa, California, function based on the principles of supply and demand. A market economy is an economic system where these two forces direct the production of goods and services.
     
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