USA HISTORY

Detailed explanation-1: -A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer. Other examples include illegal markets, auction markets, and financial markets.

Detailed explanation-2: -A market order is an order to buy or sell a stock at the market’s current best available price. A market order typically ensures an execution, but it does not guarantee a specified price. Market orders are optimal when the primary goal is to execute the trade immediately.

Detailed explanation-3: -By Goods Market, we mean all the buying and selling of goods and services. By Money Market, we mean the interaction between demand for money and the supply of money (the size of the money stock) as set by the Federal Reserve working through the banking system.

Detailed explanation-4: -Definition: A market is defined as the sum total of all the buyers and sellers in the area or region under consideration. The area may be the earth, or countries, regions, states, or cities. The value, cost and price of items traded are as per forces of supply and demand in a market.

Detailed explanation-5: -Businesses (firms) in the Product Market are producers of goods and services in the circular flow model. They sell goods and services to households. They earn revenue in exchange for their goods and services.