market

A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. Most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. For a market to be competitive, there must be more than a single buyer or seller. It has been suggested that two people may trade, but it takes at least three persons to have a market, so that there is competition on at least one of its two sides.

Authorization Path: 2.5.7.4.30.0