Markets

Overview

Markets are a central concept in economics. They represent the brining together of producers and consumers in order to exchange goods and services.

At one time, a market may have been located at a physical location. However, the term has come to mean the buying and selling of any good where supply and demand can have an effect. (see below)

Topics

• Supply and Demand - the two forces that function in a market to determine the price or a particular good or server.
• Market Efficiency - describes what market efficiency is and the factors that help to create efficient markets.