Question

What do you understand by the term market in

economics​

Answer 1

Answer:

A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. ... Other examples include the black market, auction markets, and financial markets. Markets establish the prices of goods and services that are determined by supply and demand.

Answer 2

Answer:

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Explanation:

ɪɴ ᴍᴀʀᴋᴇᴛɪɴɢ, ᴛʜᴇ ᴛᴇʀᴍ ᴍᴀʀᴋᴇᴛ ʀᴇғᴇʀs ᴛᴏ ᴛʜᴇ ɢʀᴏᴜᴘ ᴏғ ᴄᴏɴsᴜᴍᴇʀs ᴏʀ ᴏʀɢᴀɴɪᴢᴀᴛɪᴏɴs ᴛʜᴀᴛ ɪs ɪɴᴛᴇʀᴇsᴛᴇᴅ ɪɴ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛ, ʜᴀs ᴛʜᴇ ʀᴇsᴏᴜʀᴄᴇs ᴛᴏ ᴘᴜʀᴄʜᴀsᴇ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛ, ᴀɴᴅ ɪs ᴘᴇʀᴍɪᴛᴛᴇᴅ ʙʏ ʟᴀᴡ ᴀɴᴅ ᴏᴛʜᴇʀ ʀᴇɢᴜʟᴀᴛɪᴏɴs ᴛᴏ ᴀᴄǫᴜɪʀᴇ ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛ.

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ɪ ʜᴏᴘᴇ ɪᴛ ᴡɪʟʟ ʜᴇʟᴘ ʏᴏᴜ