what is a market

A market is a place or system where parties engage in exchange, typically involving the buying and selling of goods and services). Markets can be physical, such as a retail outlet, or virtual, such as an online marketplace. Some key characteristics that define a market include the availability of an arena, buyers and sellers, and a commodity that can be purchased and sold. Markets allow any tradeable item to be evaluated and priced, and they facilitate trade and enable the distribution and allocation of resources in a society). Markets also establish the prices of goods and services, which are determined by supply and demand. A market can emerge spontaneously or be constructed deliberately by human interaction in order to enable the exchange of rights of services and goods). Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of... ).