Question

Explain the role of market for goods

Answer 1

A system in which the supply and demand for goods and services plays a primary role in a competitive marketplace. ... The government may also ensure national security by not allowing businesses to transact with enemy countries and providing services that are not typically handled by private business.

Answer 2

Answer:

The market establishes the prices for goods and other services. These rates are determined by supply and demand. Supply is created by the sellers, while demand is generated by buyers. Markets try to find some balance in price when supply and demand are themselves in balance.