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- Meaning of market in economicsIn economics, a market refers to12345:
- Any place where two or more parties can meet to engage in an economic transaction.
- An arrangement where buyers and sellers come in close contact with each other directly or indirectly to sell and buy goods.
- The whole of any region in which buyers and sellers are in such free intercourse that the prices of the same goods tend to equality easily and quickly.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Meaning of market in economicsA 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.aspMeaning of market in economicsEconomists understand by the term Market, not any particular market place in which things are bought and sold, but the whole of any region in which buyers and sellers are in such free intercourse with one another that the prices of the same goods tend to equality easily and quickly.www.britannica.com/money/marketMeaning of market in economicsIn Economics however, the term “Market” does not refer to a particular place as such but it refers to a market for a commodity or commodities. It refers to an arrangement whereby buyers and sellers come in close contact with each other directly or indirectly to sell and buy goods.www.economicsdiscussion.net/market/market-mea…Meaning of market in economicsEconomists 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.www.toppr.com/guides/business-economics/meani…Meaning of market in economicsThe term ‘market’ refers to “any kind of institutional arrangement whereby buyers and sellers communicate with each other to buy or sell a commodity.” Perhaps the most important factor which influence a firm’s production decisions relate to characteristics of the market in which it operates.www.economicsdiscussion.net/market/markets-me… - 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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