write a information about market system
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Answer:
A market system (or market ecosystem) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. Some authors use the term "market system" to refer to specifically to the free market system. This article focuses on the more general sense of the term according to which there are a variety of different market systems.
Market systems are different from voting systems. A market system relies on buyers and sellers being constantly involved and unequally enabled; in a voting system, candidates seek the support of voters on a less regular basis.
Explanation:
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ANSWER:-
A market system is the network of buyers, sellers and other actors that come together to trade in a given product or service.
The participants in a market system include:
- Direct market players such as producers, buyers, and consumers who drive economic activity in the market.
- Suppliers of supporting goods and services such as finance, equipment and business consulting.
- Entities that influence the business environment such as regulatory agencies, infrastructure providers and business associations.
A market system can be specific to a product (coffee, mangoes, dairy) or a cross-cutting sector (finance, labor, business development services). A market system’s strength depends on how well the participants obtain financing, launch businesses and adopt new technologies and best practices.
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