World lost equivalent of 255 mn jobs in 2020: UN

The coronavirus pandemic took a huge toll on global jobs last year, the United Nations said Monday, with the equivalent of more than a quarter of a billion lost.

Study examines how clean air act affects municipal bond market

Research has studied the effects of climate risk on financial markets, but few studies have addressed the effect of environmental policy on those markets. A new study examined whether federal policy aimed at mitigating local ...

Nostalgia ain't what it used to be

Exploiting nostalgia is a well-worn emotive approach to enticing customers to purchase a product or service. New work in the International Journal of Electronic Marketing and Retailing, has looked at how a person's character ...

How market incumbents can navigate disruptive technology change

Researchers from University of Texas at San Antonio and University of Southern California published a new paper in the Journal of Marketing that examines the difficult choices industry incumbents and new entrants face during ...

When genetic data meets marketing

Researchers from The Wharton School of the University of Pennsylvania published a new paper in the Journal of Marketing that assesses the implications of the growth of private genetic testing for the field of marketing and ...

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Market

A market is any one of a variety of different systems, institutions, procedures, social relations and infrastructures whereby persons trade, and goods and services are exchanged, forming part of the economy. It is an arrangement that allows buyers and sellers to exchange things. Markets vary in size, range, geographic scale, location, types and variety of human communities, as well as the types of goods and services traded. Some examples include local farmers’ markets held in town squares or parking lots, shopping centers and shopping malls, international currency and commodity markets, legally created markets such as for pollution permits, and illegal markets such as the market for illicit drugs.

In mainstream economics, the concept of a market is any structure that allows buyers and sellers to exchange any type of goods, services and information. The exchange of goods or services for money is a transaction. Market participants consist of all the buyers and sellers of a good who influence its price. This influence is a major study of economics and has given rise to several theories and models concerning the basic market forces of supply and demand. There are two roles in markets, buyers and sellers. The market facilitates trade and enables the distribution and allocation of resources in a society. Markets allow any tradable item to be evaluated and priced. A market emerges more or less spontaneously or is constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods.

The historical origin of markets is the physical marketplaces which would often develop into small communities, towns and cities.[citation needed]

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