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In general parlance, a market is a location where those willing to pay a price for something meet those willing to sell it. In marketing, a market is the sum total of potential buyers of a product.
In economics, a market is a mechanism which allows people to trade, normally governed by the theory of supply and demand, and thereby allocates resources through a price mechanism. It typically involves a bid and ask process.
Both general markets (where many commodities are traded) and specialised markets (where only one commodity is traded) exist. Markets work by placing many interested sellers in one "place", thus making them easier to find for prospective buyers. An economy which relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy that is based, e.g., on gifts.
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A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the merchandise. This kind of market is very old, and countless such markets are still in operation around the whole world.
The Roman term for market, still in use in a related sense, is forum. The modern shopping mall can be seen as an extension of this concept.
A wholesale market is a market which primarily sells to traders such as caterers and small shopkeepers, rather than to members of the public, although members of the public are not necessarily excluded. London, England has several centuries old wholesale markets such as Smithfield Market and Billingsgate Fish Market.
In modern times, mainly after the invention of the electronic computer, markets are not always located in a physical space. Such virtual markets consist of communication paths where information exchange is easy and deals may be struck. These are often called marketspaces. A notable example of this is the international currency market. The e-Bay web site can also be considered a marketspace.
Investment or investing1 is a term with several closely-related meanings in finance and economics. It refers to the accumulation of some kind of asset in hopes of getting a future return from it. Technically, the word means the "action of putting something in to somewhere else" (perhaps originally related to a person's garment or 'vestment').
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| List of Marketing Topics | List of Management Topics |
| List of Economics Topics | List of Accounting Topics |
| List of Finance Topics | List of Economists |
Note 1: UK and U.S. English, respectively.