Entity: MARKET
A market is a place or system where buyers and sellers come together to exchange goods and services.
MARKET
Etymology
The word 'market' originates from the Latin word 'mercatus,' meaning trade or buying and selling.
Definition
A market is a dynamic space where transactions occur between buyers and sellers, leading to the exchange of goods and services. It can refer to a physical location, such as a marketplace, or a virtual platform where trading takes place.
Historical Context
Markets have been integral to human civilization, facilitating economic activities and cultural exchange. From ancient bazaars to modern stock exchanges, markets have evolved with society.
Cultural Significance
Markets play a vital role in shaping local cultures and economies. They serve as hubs for social interaction, innovation, and the distribution of goods.
Related Concepts
- Supply and demand
- Trade agreements
- Market economy
See Also
A dynamic space where transactions occur between buyers and sellers, leading to the exchange of goods and services.