Difference between revisions of "Market"
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| − | [[Market]] is a medium in which [[buyer]]s and [[seller]]s of a specific [[product]] interact in order to facilitate an exchange: | + | [[File:Intristic-vs-market.png|400px|thumb|right|[[Intrinsic value]] vs [[market price]]]][[Market]] is a medium in which [[buyer]]s and [[seller]]s of a specific [[product]] interact in order to facilitate an exchange: |
*For a [[buyer]], ''market'' is also an aggregate of all [[product]]s that this [[buyer]] would like to buy; | *For a [[buyer]], ''market'' is also an aggregate of all [[product]]s that this [[buyer]] would like to buy; | ||
*For a [[seller]], ''market'' is also an aggregate of all [[buyer]]s who are willing to buy a particular [[product]] that this [[seller]] sells. | *For a [[seller]], ''market'' is also an aggregate of all [[buyer]]s who are willing to buy a particular [[product]] that this [[seller]] sells. | ||
Revision as of 00:38, 3 November 2019
Market is a medium in which buyers and sellers of a specific product interact in order to facilitate an exchange:
- For a buyer, market is also an aggregate of all products that this buyer would like to buy;
- For a seller, market is also an aggregate of all buyers who are willing to buy a particular product 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 product.
