Requiring two or more parties, a Market involves the exchange of a product, service, or information for money. The exchange can occur virtually or in a physical space.
For a market to be competitive, there must be more than one seller and one buyer.
Types of Markets:
- Physical Market
- Virtual Market
- Auction Market
- Black Market
- Financial Market
Example: Amazon, an online business enterprise focused on e-commerce, is a virtual market.