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http://www.netmba.com/marketing/market/definition/ A market is a place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical like a retail outlet, where people meet face-to-face, or virtual like an online market, where there is no direct physical contact between buyers … See more 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 … See more Whatever the context, a market establishes the prices for goods and other services. These rates are determined by supply and demand. The idea of supply and demand is one of the very basics of economics. Supply is … See more Markets vary widely for a number of reasons, including the kinds of products sold, location, duration, size, and constituency of the customer base, size, legality, and many other factors. Aside from the two most … See more Markets may be represented by physical locations where transactions are made. These include retail stores and other similar businesses that sell individual items to wholesale markets selling goods to distributors. Or they … See more WebIn Market Economies, in addition to prices "controlling" the product market, prices also "control" the resource market. This would explain why, in market economies, an employee's field of work impacts the size of their wages: an employee with a scarce-yet-much-demanded-skill-set can charge lots of money for their "resources". flixbus hamburg prag