Bitcoin better than the dollar?

The name cryptocurrency does not inspire trust. Advanced statistical analysis for the Bitcoin market carried out at the Institute of Nuclear Physics of the Polish Academy of Sciences in Cracow, however, has not shown any ...

Rolls-Royce unveils hybrid flying taxi at Farnborough

British engine maker Rolls-Royce revealed plans this week to develop a hybrid electric vehicle, dubbed the "flying taxi", which takes off and lands vertically and could be airborne within five years.

A better way to make acrylics

Acrylics are an incredibly diverse and useful family of chemicals used in all kinds of products, from diapers to nail polish. Now, a team of researchers from UConn and ExxonMobil describe a new process for making them. The ...

Electric vehicles as an example of a market failure

Electric vehicle revolution is well under way. Norway ambitiously heads toward having all new cars sold as zero-emission by 2025. China continues to be one of the major drivers of EV boom. The US market experiences strong ...

Advertising just got micro-personal – why we don't care

With all the buzz and hysteria about how consumers are being cunningly "micro-targeted" in a bid for mind control, not only by advertisers of products but also by political parties, researchers at UniSA's Ehrenberg-Bass Institute ...

Vietnam makes fresh ivory, pangolin haul from Nigeria

Vietnam has seized eight tonnes of pangolin scales and elephant ivory shipped from Nigeria, police said Friday, the second such haul in a week in a country which both consumes and trafficks huge volumes of endangered African ...

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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]

This text uses material from Wikipedia, licensed under CC BY-SA