What is the market?
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Posted by Dalbir Singh 5 years, 10 months ago
- 2 answers
Yogita Ingle 5 years, 10 months ago
When we talk about a market we generally visualize a crowded place with a lot of consumers and a few shops. People are buying various goods like groceries, clothing, electronics, etc.
And the shops are also selling a variety of products and services as well. So in a traditional sense, a market is where buyers and seller meet to exchange goods and services.
But what is a market in economics? In economics, we do not refer to a market as a physical place. 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.
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Amisha Chopra 5 years, 10 months ago
1Thank You