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.