A place where buyers and sellers come together for buying and selling. Answer in a word / phrase / term.
Answers
market.
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Answer: Market
Explanation: A market is a place which help in exchanging goods and services between the buyers and the sellers These synergy help in gauging the demand and supply situation in the economies.
It is a place where any type of trade is executed.Markets is a physical meeting point of buyers and sellers for a trade to be executed. In certain markets there is a stiff competition because of presence of high number of sellers selling the same product or services whereas other markets have no or low competition. This is because certain industries are protected by Government legislation.
The price of the goods or services depends upon the number of buyers and sellers present in the market.This is known as the law of supply.More sellers than buyers lead to a pressure on the prices on the contrary more buyers than sellers, will lead to a rise in prices.