Market (economics)

Jay Kang
 — Nov 4, 2018
min. read

market is one of the many varieties of systemsinstitutionsproceduressocial relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.