Okuzeka
Economics vocabulary · Markets, Supply and Demand

Market

Meaning in economics, with examples

nounCore term

In economics, market means: Any arrangement, physical or online, where buyers and sellers meet to exchange goods, services or assets, and where prices are formed.

In Turkish: piyasa, pazar

How it is used

A very broad word: the labour market, the housing market, the oil market, financial markets. In the news, the markets often means financial markets and investors: markets reacted calmly to the decision. Firms enter or leave a market; governments regulate or open up markets.

Example sentences

  1. In a competitive market, no single seller can set the price.

  2. Markets reacted calmly to the central bank's decision.

Common collocations

  • the housing market
  • financial markets
  • market price
  • market share
  • enter a market
  • supplyThe amount of a good or service that producers are willing and able to sell at each possible price during a given period.
  • demandThe amount of a good or service that buyers are willing and able to purchase at each possible price during a given period.
  • competitionRivalry between firms that sell similar products and try to win the same customers, which tends to push prices down and quality up.
  • market failureA situation in which a free market, left alone, does not produce an efficient outcome for society, so too much or too little of something is produced.
  • labour marketThe market in which workers offer their time and skills and employers hire them, setting the level of employment and wages.

More terms: Markets, Supply and Demand

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This page explains English vocabulary for learners. It is not financial advice.