What is a Market?

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What is a Market?

It is a place where buyers and sellers exchange goods and services. 

The market consists of all potential customers having a need or want who possess the ability and willingness to engage in exchange to satisfy that need or want. In other words, there should be:

  1. People with needs or wants to satisfy.
  2. Money to spend
  3. Willingness to spend through the exchange.

Markets can be: Consumer, Business, Institutional, and Global. 

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