Difference between revisions of "Market"
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[[File:Intristic-vs-market.png|400px|thumb|right|[[Intrinsic value]] vs [[market price]]]][[Market]] is a space where [[buyer]]s and [[seller]]s meet to facilitate willful exchanges or transactions of some [[market exchangeable]]s. The market allows for interactions between the parties; agreed exchanges and transactions may occur on the same market or outside of it. | [[File:Intristic-vs-market.png|400px|thumb|right|[[Intrinsic value]] vs [[market price]]]][[Market]] is a space where [[buyer]]s and [[seller]]s meet to facilitate willful exchanges or transactions of some [[market exchangeable]]s. The market allows for interactions between the parties; agreed exchanges and transactions may occur on the same market or outside of it. | ||
| − | * | + | * ''Buyer's market'' is an aggregate of all [[market exchangeable]]s that this [[buyer]] can possibly buy; |
| − | * | + | * ''Seller's market'' is an aggregate of all [[buyer]]s who are willing to buy a particular [[market exchangeable]] that this [[seller]] sells. |
''Market'' can also be defined as some space, virtual or physical, in which [[seller]]s (a) search for [[buyer]]s and [[buyer]]s search for [[seller]]s, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of [[buyer]]s and [[seller]]s of a particular [[market exchangeable]]. | ''Market'' can also be defined as some space, virtual or physical, in which [[seller]]s (a) search for [[buyer]]s and [[buyer]]s search for [[seller]]s, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of [[buyer]]s and [[seller]]s of a particular [[market exchangeable]]. | ||
Revision as of 11:10, 17 May 2023
Market is a space where buyers and sellers meet to facilitate willful exchanges or transactions of some market exchangeables. The market allows for interactions between the parties; agreed exchanges and transactions may occur on the same market or outside of it.
- Buyer's market is an aggregate of all market exchangeables that this buyer can possibly buy;
- Seller's market is an aggregate of all buyers who are willing to buy a particular market exchangeable that this seller sells.
Market can also be defined as some space, virtual or physical, in which sellers (a) search for buyers and buyers search for sellers, (b) negotiate prices, and (c) make deals. Market competitiveness refers to the ratio of buyers and sellers of a particular market exchangeable.
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Market. An institution that brings together buyers and sellers of goods or services.
According to Marketing Management by Keller and Kotler (15th edition),
- Market. Various groups of customers.
