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MARKET

Market is one of a variety of systems, institutions, procedures, social relations and infrastructures whereby businesses sell goods, services and employment to people in exchange for money. Goods and services sold using such legal tender fiat money. This activity is a part of the economy. It is an arrangement that allows buyers and sellers to exchange their  items. Competition is very important in the market, and separate from the trade market. Two people may trade, but it takes at least three persons to have a market, so that there is competition on at least one of the two sides. Markets vary in size, range, geographic scale, location and type of human communities, as well as the types of goods and services traded. Some examples include local farmers market held in the town square or park, shopping centers and shopping malls, international currency and commodity markets, such as the law creating the market for pollution permits, and illegal markets such as the market for illicit drugs.

The following are the types of markets that we know:

v   Based on the type:
* Consumption goods  Market
* Factors of production Market

v   Based on his form:
*Concrete Market
* Abstract Market
 

v  Based on the type of goods traded:
* Fruit Market
* Meat Market
* Fish market
* Animal Market 

v   According to the breadth of coverage:
* Local Market
* Area Market  
* National Market
* The international market

In a knowledge of economics mainstream, the concept of the market is any structure that allows buyers and sellers for the exchange of goods, services and information. Exchange of goods or services for money is a transaction. Market participants consist of all the buyers and sellers of a good who influence its price. This influence is a major study of economics and has given rise to several theories and models concerning the basic market forces of supply and demand. There are two roles in markets, buyers and sellers. The market facilitates trade and enables the distribution and allocation of resources in society. Market allows all items to be evaluated and traded price. An emerging market is more or less spontaneous or deliberately constructed by human interaction to enable the exchange of rights (ownership) of services and goods.

               Historically, markets originated in physical market will often develop into - or from – small

communities, towns and cities.