market definition

Which Is The Correct Definition Of A Market According To Economists?

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Which Is The Correct Definition Of A Market According To Economists? Market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions. What is the best definition of a market in economics?

What Do Consumers And Businesses In A Market Economy Seek To Do?

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What Do Consumers And Businesses In A Market Economy Seek To Do? Consumers are willing to pay a high price for the goods and services they want, and businesses will seek to produce those goods and services as efficiently as possible. A market economy also promotes healthy competition among businesses resulting in higher quality goods