Market

Market is one of a variety of systems, institutions, procedures, social relations and infrastructures in which businesses sell goods, services and labor for the people in exchange for money. Goods and services sold to use as legal tender fiat money. This activity is part of the economy. It is an arrangement that allows buyers and sellers to exchange items. Competition is very important in the market, and separate from the trading market. Two people may do the trade, but it takes at least three people to have a market, so there is competition on at least one of the two sides. Markets vary in size, range, geographic scale, location, type and variety of the human community, as well as the type of goods and services traded. Some examples include local farmers market held in the town square or parking lots, shopping centers and shopping malls, international currency and commodity markets, the law creating such a market for pollution permits, and illegal markets like the market for illicit drugs.

In mainstream economics, the concept of the market is any structure that allows buyers and sellers to exchange any type of goods, services and information. Exchange of goods or services for money is a transaction. Market participants consist of all buyers and sellers are both affecting its price. This influence is a major study of economics and has spawned several theories and models of basic market forces of supply and demand. There are two roles in the market, buyers and sellers. Markets facilitate trade and allow the distribution and allocation of resources in the community. Markets allow all items to be evaluated and traded prices. An emerging market is more or less spontaneous or deliberately constructed by human interaction to allow the exchange of rights (ownership) services and goods.

Sumber: https://www.kuliahbahasainggris.com/