What is a Market? Definition, Characteristics, Types, & How It Works
Quick Summary A market is a platform where buyers and sellers exchange goods, services, or information, either physically (stores, bazaars) or virtually (e-commerce). Key characteristics include buyer-seller interaction, commodity focus, and supply-demand dynamics. Markets vary by type—consumer, B2B, financial, auction, etc.—each serving different needs. They function through price mechanisms influenced by demand, availability, and competition, … Read more