Market

Market, any group of transactions or business dealings between buyers and sellers. As opposed to simple selling, a market implies trade that is transacted with some regularity and regulation, and in which a certain amount of competition is involved; it arises whenever groups of buyers and sellers come together, and allows the operation of supply and demand. The earliest markets in history conducted bartering. After the introduction of money, commercial codes were developed that ultimately led to modern national and international enterprise. As production expanded, communications and so-called middlemen came to play an ever growing role in markets. Types of markets include retail, wholesale or distributors', producers', raw material, and stock.

The term market is also used to denote a place where goods are bought and sold, and to refer to potential or estimated consumer demand.