What is a market and how does it work?

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 physical presence or contact between buyers and sellers.

What is a market example?

A market is where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical, like a retail outlet, or virtual, like an e-retailer. Examples include illegal markets, auction markets, and financial markets. Markets establish the prices of goods and services, determined by supply and demand.

What is a market size?

More recent techniques involve data mining and marketing engineering . Market size can be given in terms of the number of buyers and sellers in a particular market or in terms of the total exchange of money in the market, generally annually (per year).

What are the features of a market?

Markets establish the prices of goods and services, determined by supply and demand. Features of a market include the availability of an arena, buyers and sellers, and a commodity. 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 tender.