What do you mean by market | Marketpidia

  Market:

The term 'market' is derived from the Latin word "Mercatus", which means to trade.
 It also means merchandise, ware traffic, and place of business. As the term 'market' has a different meaning, the term is used in different senses in different contexts. The term is used to means any of the following :

• A place where the market is held.

• n assembly of people, viz., buyer and sellers.

• An idea of operation.

• An organization which facilitates an exchange of commodities or buying and selling of goods.

• An act of buying and selling.

• A course of commercial activities.

The market in an ordinary sense:

   Though the term market can be used to mean any of the above, it is, ordinarily, used to refer to a certain place 

where buyer and sellers personally meet each other make their purchase and sales. In short, it means a certain

 place where goods are bought and sold. Grain market, fruit market, vegetable market, fish market, etc are some 

of the examples of markets in this sense.

The market in the economic sense:

   In economics, the term market is used to mean in different things. In the economic sense, the term market

 does not refer to any particular place where buyers and sellers meet face to face and make there purchase

 or sales, but the whole of any region where the buyers and sellers are in such free intercourse with one

 another that a single price prevails for a certain commodity at a certain point of time throughout the

 region. In short, it means the getting together of buyers and sellers in person or by mail, telephone, telegraph,

 cable or through any other means of communication. This is clear from the definitions of the term 

market given by several economists.

The market in the sense of several economists:

• A market means any body of persons who are in intimate business relations and carry on extensive transactions in any commodity     - William Stanley Jevon

•   A market means a coming together of offers and demand for economic goods irrespective of the physical presence of the contracting parties -prof. Seligman 

•  market refers " not to a palce but to a commodity or commodities and buyers and sellers who are in direct competition with one another" -Chapman                                                                                     

The market has lots of meaning in a different sense but it is a place where buyers and sellers meet and sell there product or services.