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Market

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	Topics Market Topic Home In economicsEconomics In the social sciences, economics is the study of the production, distribution, and consumption of goods and services..... , the concept of a market is any structure that allows buyers and sellers to exchange any goods, services and informationInformation economy Information economy is a loosely defined term to characterize an economy with increased role of informational activities and... . The exchange of goods or services for moneyMoney Economics offers various definitions for money, though it is now commonly considered to be any good or token that functions ... is a transactionTransaction A transaction is an agreement, communication, or movement carried out between separate entities or objects.... . A market consists of all the buyers and sellers of a goodGood Good may mean:* Good, as in Goodness and evil... who influences its pricePrice In economics and business, the price is the assigned numerical monetary value of a good, service or asset.... . This influence is the objective of economistEconomist An economist is an individual who studies, develops, and applies theories and concepts from economics, and writes about econ... s and has given rise to several theories and models in economics concerning the basic market forces of supply and demandSupply and demand In microeconomic theory, the partial equilibrium supply and demand economic model originally developed by Antoine Augustin C... . There are two roles in markets, buyerFacts About Buyer A buyer is any person who contracts to acquire an asset in return for some form of consideration.... s and sellers. The definition implies that at least three actors are needed for a market to exist; at least one actor, on the one side of the market, who is aware of at least two actors on the other side whose offers can be evaluated in relation to each other. The market facilitates tradeTrade Trade is the voluntary exchange of goods, services, or both.... and enables the distribution and allocation of goods and services in a society. Markets allows any tradable item to be evaluated and pricePrice In economics and business, the price is the assigned numerical monetary value of a good, service or asset.... d. A market emerges more or less spontaneously or is constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownershipOwnership Ownership is the state or fact of exclusive possession or control of property, which may be an object, land/real estate, int... ) of services and goods. The historical origin of markets is the physical marketplaceMarketplace A marketplace is the space, actual or metaphorical, in which a market operates.... s which would often develop into small communities, towns and cities. Types of markets Although many markets exist in the traditional sense--such as a flea marketFlea market A flea market, also known as a swap meet, is a place where vendors come to sell or trade their goods.... --there are various other types of markets and various organizational structures to assist their functions. A market can be organized as an auctionAuction An auction is the process of buying and selling things by offering them up for bid, taking bids, and then selling the item t... , as a private electronic marketPrivate electronic market A private electronic market utilises the internet to connect a limited number or pre-qualified buyers or sellers in one mar... , as a shopping center, as a complex institution such as a stock marketStock market A stock market is a market for the trading of company stock, and derivatives of same; both of these are securities listed on... , and as an informal discussion between two individuals. In economics, a market that runs under laissez-faireLaissez-faire \|\|-\|\|}Laissez-faire or laisser-faire is short for "laissez faire, laissez aller, laissez passer," a French phr... policies is a free marketFree market A free market is a market where price is determined by unregulated supply and demand; the opposite is a controlled market'... . It is "free" in the sense that the government makes no attempt to intervene through taxTax A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent ... es, subsidiesSubsidy In economics, a subsidy is generally a monetary grant given by a government to lower the price faced by producers or consume... , minimum wageFacts About Minimum wage The minimum wage is the minimum hourly, daily or monthly amount which workers must be paid by their employers.... s, price ceilingPrice ceiling A Price Ceiling is a government-imposed limit on how high a price can be charged on a product.... s, etc. Market prices may be distorted by a seller or sellers with monopolyMonopoly In economics, a monopoly is defined as a persistent market situation where there is only one provider of a product or servi... power, or a buyer with monopsonyMonopsony In economics, a monopsony is a market form with only one buyer, called "monopsonist", facing many sellers.... power. Such price distortions can have an adverse effect on market participant's welfare and reduce the efficiency of market outcomes. Also, the level of organization or negotiation power of buyers, markedly affects the functioning of the market. Markets where price negotiations do not arrive at efficient outcomes for both sides are said to experience market failureMarket failure Market failure is a situation in which markets do not efficiently organize production or allocate goods and services to con... . Most markets are regulated by state wide lawLaw Summary Law is the set of rules or norms of conduct which forbid, permit or mandate specified actions and relationships among people... s and regulationRegulation A regulation is a legal restriction promulgated by government administrative agencies through rulemaking supported by a thre... s. While barterBarter Summary Barter is a type of trade where goods or services are exchanged for a certain amount of other goods or services; no money is... markets exist, most markets use currencyCurrency A currency is a unit of exchange, facilitating the transfer of goods and services.... or some other form of moneyMoney Economics offers various definitions for money, though it is now commonly considered to be any good or token that functions ... . Markets of varying types can spontaneously arise whenever a party has interest in a good or service that some other party can provide. Hence there can be a market for cigarettes in correctional facilities, another for chewing gum in a playground, and yet another for contracts for the future delivery of a commodity. There can be black marketBlack market The black market or underground market is the part of economic activity involving illegal dealings, typically the buyi... s, where a good is exchanged illegally and virtual markets, such as eBayEBay eBay Inc. manages an online auction and shopping website, where people buy and sell goods and services worldwide.... , in which buyers and sellers do not physically interact. There can also be markets for goods under a command economy despite pressure to repress them. The market can be divided into several types according to various functions. Most investors prefer investing in two markets, the stock markets and the bond markets. NYSE, AMEX, and the NASDAQ are the most common stock markets in the US. Prediction markets are a type of speculative market in which the goods exchanged are futures on the occurrence of certain events. They apply the market dynamics to facilitate information aggregation. See also Farmers' marketFarmers' market * Essex Farmers Markets* Local food* London farmers' markets... Financial marketFinancial market In economics, a financial market is a mechanism which allows people to trade money for securities or commodities such as gol... Grocery storeGrocery store Overview A grocery store is a store established primarily for the retailing of food.... MarketplaceMarketplace A marketplace is the space, actual or metaphorical, in which a market operates.... Market squareMarket square The market square is a feature of many British and other European towns.... Market townMarket town In medieval law, a market town is a settlement that has the right to hold markets but which is not also a city.... Market customizationMarket customization Sorry, no overview for this topic Market economyMarket economy A market economy is an economic system in which the production and distribution of goods and services takes place through t... Market microstructureMarket microstructure Market Microstructure is a branch of economics concerned with the functional setup of a market.... Media marketFacts About Media market A media market, broadcast market, media region, designated market area, DMA or simply market i... Stock marketStock market A stock market is a market for the trading of company stock, and derivatives of same; both of these are securities listed on... Street marketStreet market A street market is an outdoor market such as traditionally held in a market square in a market town, and are often held only... SupermarketSupermarket A supermarket is a departmentalized self-service store offering a wide variety of food and household merchandise.... Sources Microeconomics by Robert S. Pindyck, Daniel L. Rubinfeld External links