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单词 market
释义

market


mar·ket

M0113400 (mär′kĭt)n.1. a. A public gathering held for buying and selling goods or services: a weekly flower market.b. An open space or a building where goods or services are offered for sale by multiple sellers: bought the chair at the downtown antiques market.c. A store or shop that sells agricultural produce: bought vegetables from the corner market.2. a. A system of exchange in which prices are determined by the interaction of multiple, competing buyers and sellers: an electronic market for trading pollution credits.b. A similar system in which information or ideas are evaluated by multiple competing interests.3. a. The buyers and sellers for a particular good or service or within a particular region: recent college graduates entering the US labor market.b. The business transacted between such sellers and buyers: a slump in the housing market.c. The price of a particular good or service as determined by supply and demand: The gold market climbed for the fifth straight day.d. The demand for a particular commodity: a big market for denim; a growth market.4. A standing commitment to buy and sell a given security at stated prices: a brokerage that made a market in the company's stock.5. A subdivision of a population considered as consumers: targeting the teen market; a new product for the West Coast market.6. The market price: executed the sale at market.v. mar·ket·ed, mar·ket·ing, mar·kets v.tr.1. To offer for sale: merchants marketing their wares in the souk.2. To try to make (a product or service) appealing to particular groups of consumers; promote by marketing.v.intr.1. To deal in a market; engage in buying or selling.2. To buy household supplies: We marketed for a special Sunday dinner.Idioms: in the market Interested in buying: We are in the market for a used car. on the market1. Available for buying: Many kinds of seasonal flowers are on the market.2. Up for sale: They put the family business on the market.
[Middle English, from Old North French, from Vulgar Latin *marcātus, from Latin mercātus, from past participle of mercārī, to buy, from merx, merc-, merchandise.]

market

(ˈmɑːkɪt) n1. (Commerce) a. an event or occasion, usually held at regular intervals, at which people meet for the purpose of buying and selling merchandiseb. (as modifier): market day. 2. (Human Geography) a place, such as an open space in a town, at which a market is held3. (Commerce) a shop that sells a particular merchandise: an antique market. 4. (Commerce) the market business or trade in a commodity as specified: the sugar market. 5. (Commerce) the trading or selling opportunities provided by a particular group of people: the foreign market. 6. (Commerce) demand for a particular product or commodity: there is no market for furs here. 7. (Stock Exchange) See stock market8. (Economics) See market price, market value9. (Commerce) at market at the current price10. be in the market for to wish to buy or acquire11. (Commerce) on the market available for purchase12. (Commerce) to speculate on a stock exchange13. to act aggressively or unscrupulously in one's own commercial interests14. (Commerce) buyer's market a market characterized by excess supply and thus favourable to buyers15. (Commerce) seller's market a market characterized by excess demand and thus favourable to sellersvb, -kets, -keting or -keted16. (Commerce) (tr) to offer or produce for sale17. (Commerce) (intr) to buy or deal in a market[C12: from Latin mercātus; from mercāri to trade, from merx merchandise] ˈmarketer n

mar•ket

(ˈmɑr kɪt)

n. 1. an open place or a building where buyers and sellers convene for the sale of goods. 2. a store for the sale of food. 3. a meeting of people for buying and selling. 4. the people assembled. 5. trade in a particular commodity: the cotton market. 6. demand for a commodity: a dwindling market for leather goods. 7. the body of existing or potential buyers for specific goods or services: the health-food market. 8. a region in which goods and services are bought or used: the foreign market. 9. an economic situation in which supply and demand interact through the activity of buyers and sellers: market forces; a market economy. 10. stock market. v.i. 11. to deal commercially in a market. 12. to buy provisions for the home. v.t. 13. to offer in a market for sale. 14. to sell. Idioms: 1. in the market for, interested in buying. 2. on the market, for sale; available. [1100–1150; << Latin mercātus= mercā(rī) to buy (from merx commodity) + -tus suffix of v. action] mar′ket•er, n.

market


Past participle: marketed
Gerund: marketing
Imperative
market
market
Present
I market
you market
he/she/it markets
we market
you market
they market
Preterite
I marketed
you marketed
he/she/it marketed
we marketed
you marketed
they marketed
Present Continuous
I am marketing
you are marketing
he/she/it is marketing
we are marketing
you are marketing
they are marketing
Present Perfect
I have marketed
you have marketed
he/she/it has marketed
we have marketed
you have marketed
they have marketed
Past Continuous
I was marketing
you were marketing
he/she/it was marketing
we were marketing
you were marketing
they were marketing
Past Perfect
I had marketed
you had marketed
he/she/it had marketed
we had marketed
you had marketed
they had marketed
Future
I will market
you will market
he/she/it will market
we will market
you will market
they will market
Future Perfect
I will have marketed
you will have marketed
he/she/it will have marketed
we will have marketed
you will have marketed
they will have marketed
Future Continuous
I will be marketing
you will be marketing
he/she/it will be marketing
we will be marketing
you will be marketing
they will be marketing
Present Perfect Continuous
I have been marketing
you have been marketing
he/she/it has been marketing
we have been marketing
you have been marketing
they have been marketing
Future Perfect Continuous
I will have been marketing
you will have been marketing
he/she/it will have been marketing
we will have been marketing
you will have been marketing
they will have been marketing
Past Perfect Continuous
I had been marketing
you had been marketing
he/she/it had been marketing
we had been marketing
you had been marketing
they had been marketing
Conditional
I would market
you would market
he/she/it would market
we would market
you would market
they would market
Past Conditional
I would have marketed
you would have marketed
he/she/it would have marketed
we would have marketed
you would have marketed
they would have marketed

market

Any area of business where buyers and sellers are in contact with each other and where prices in one area affect prices in another area. A market need not be confined to a particular place, it could refer to an area of the economy, for example, the market for factory machinery or the market for foreign exchange.
Thesaurus
Noun1.market - the world of commercial activity where goods and services are bought and soldmarket - the world of commercial activity where goods and services are bought and sold; "without competition there would be no market"; "they were driven from the marketplace"marketplace, market placeactivity - any specific behavior; "they avoided all recreational activity"business enterprise, commercial enterprise, business - the activity of providing goods and services involving financial and commercial and industrial aspects; "computers are now widely used in business"black market - an illegal market in which goods or currencies are bought and sold in violation of rationing or controlsbuyer's market, buyers' market, soft market - a market in which more people want to sell than want to buygray market, grey market - an unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agencyseller's market, sellers' market - a market in which more people want to buy than want to selllabor market - the market in which workers compete for jobs and employers compete for workersmonopoly - (economics) a market in which there are many buyers but only one seller; "a monopoly on silver"; "when you have a monopoly you can ask any price you like"monopsony - (economics) a market in which goods or services are offered by several sellers but there is only one buyeroligopoly - (economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors
2.market - the customers for a particular product or service; "before they publish any book they try to determine the size of the market for it"social class, socio-economic class, stratum, class - people having the same social, economic, or educational status; "the working class"; "an emerging professional class"black market - people who engage in illicit trade
3.market - a marketplace where groceries are soldmarket - a marketplace where groceries are sold; "the grocery store included a meat market"food market, grocery, grocery storegreengrocery - a greengrocer's grocery storemarket place, mart, marketplace, market - an area in a town where a public mercantile establishment is set upshelf - a support that consists of a horizontal surface for holding objectssupermarket - a large self-service grocery store selling groceries and dairy products and household goods
4.market - the securities markets in the aggregatemarket - the securities markets in the aggregate; "the market always frustrates the small investor"securities industrysecurities market, stock exchange, stock market - an exchange where security trading is conducted by professional stockbrokersindustry - the people or companies engaged in a particular kind of commercial enterprise; "each industry has its own trade publications"bear market - a market characterized by falling prices for securitiesbull market - a market characterized by rising prices for securitiesthe City - used to allude to the securities industry of Great Britainthe Street, Wall Street - used to allude to the securities industry of the United Statesmoney market - a market for short-term debt instrumentsnondepository financial institution - a financial institution that funds their investment activities from the sale of securities or insurance
5.market - an area in a town where a public mercantile establishment is set upmarket - an area in a town where a public mercantile establishment is set upmarket place, mart, marketplacepublic square, agora - a place of assembly for the people in ancient Greecebazar, bazaar - a street of small shops (especially in Orient)food market, grocery, grocery store, market - a marketplace where groceries are sold; "the grocery store included a meat market"mercantile establishment, outlet, retail store, sales outlet - a place of business for retailing goodsmarket square, open-air market, open-air marketplace - a public marketplace where food and merchandise is soldslave market - a marketplace where slaves were auctioned off (especially in the southern United States before the American Civil War)agora - the marketplace in ancient Greece
Verb1.market - engage in the commercial promotion, sale, or distribution ofmarket - engage in the commercial promotion, sale, or distribution of; "The company is marketing its new line of beauty products"commerce, commercialism, mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)merchandise, trade - engage in the trade of; "he is merchandising telephone sets"offer - make available for sale; "The stores are offering specials on sweaters this week"
2.market - buy household supplies; "We go marketing every Saturday"commerce, commercialism, mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)shop - do one's shopping; "She goes shopping every Friday"
3.market - deal in a marketcommerce, commercialism, mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)sell, trade, deal - do business; offer for sale as for one's livelihood; "She deals in gold"; "The brothers sell shoes"
4.market - make commercial; "Some Amish people have commercialized their way of life"commercialise, commercializecommerce, commercialism, mercantilism - transactions (sales and purchases) having the objective of supplying commodities (goods and services)alter, change, modify - cause to change; make different; cause a transformation; "The advent of the automobile may have altered the growth pattern of the city"; "The discussion has changed my thinking about the issue"

market

noun1. fair, mart, bazaar, souk (Arabic) Many traders in the market have special offers today.2. demand, call, need, desire, requirement There's no market for such expensive goods.3. trade, business, dealing, commerce, trading, buying and selling Two big companies control 72% of the market.verb1. sell, promote, retail, peddle, vend, offer for sale These phones have been marketed here since 1963.in the market for in need of, wanting, seeking, lacking, wishing to buy Are you in the market for a new radio?on the market on offer, on sale, up for sale putting more empty offices on the market

market

verbTo offer for sale:deal (in), handle, merchandise, merchant, peddle, retail, sell, trade (in), vend.
Translations
市场市集销售销路

market

(ˈmaːkit) noun1. a public place where people meet to buy and sell or the public event at which this happens. He has a clothes stall in the market. 市場(指市集) 市场(指市集) 2. (a place where there is) a demand for certain things. There is a market for cotton goods in hot countries. 市場(指銷路) 市场(指销路) verb to (attempt to) sell. I produce the goods and my brother markets them all over the world. 銷售,行銷 销售ˈmarketable adjective wanted by the public and therefore able to be sold. a marketable product. 有銷路的 可销售的ˈmarketing noun (the study of) the processes by which anything may be sold. He is in charge of marketing; (also adjective) marketing methods. 行銷,行銷學 销售,销售学 ˌmarket-ˈgarden noun a garden where fruit and vegetables are grown for sale. 自種自銷蔬果園 自产自销的果(菜)园 ˈmarket-place, ˌmarket-ˈsquare noun the open space or square in a town in which a market is held. 市集廣場 市场market price/value the price at which a thing is being sold at a particular time. What's the current market price of gold? 市價,市值 市场价格(值) market research investigation of the habits and preferences of the public in choosing what goods to buy. She does market research for a cosmetics firm. 市場調查 市场调查be on the market to be for sale. Her house has been on the market for months. 上市,出售 被供应出售

market

市场zhCN
  • When is the market? (US)
    When is the market on? (UK) → 市场什么时候开市?

market


See:
  • a buyer's market
  • a cattle market
  • a drug on the market
  • a seller's market
  • be in the market for
  • black market
  • bring (one's) pigs to market
  • bring your pigs to market
  • cash market
  • cattle market
  • corner the market
  • corner the market on
  • corner the market on (something)
  • drive (one's) pigs to market
  • drug on the market
  • find (oneself) in the market for (something)
  • find oneself in the market
  • flea market
  • flood the market
  • glut on the market
  • have a corner on the market
  • in the market
  • in the market for
  • in the market for (something)
  • in the market for something
  • like a blind dog in a meat market
  • like a bolt out of the blue
  • market day
  • meat market
  • on the market
  • on the open market
  • play the market
  • price (oneself, someone, or something) out of the market
  • price out of the market
  • price yourself out of the market
  • price yourself/something out of the market
  • put (something) on the market
  • seller's market
  • slave market
  • spot market
  • the black market
  • the bottom drops out of the market
  • the bottom drops/falls out of the market
  • the bottom falls out of the market

Market


market

1. a. an event or occasion, usually held at regular intervals, at which people meet for the purpose of buying and selling merchandise b. (as modifier): market day 2. a place, such as an open space in a town, at which a market is held 3. a shop that sells a particular merchandise 4. the market business or trade in a commodity as specified 5. the trading or selling opportunities provided by a particular group of people 6. demand for a particular product or commodity 7. See market price8. at market at the current price 9. on the market available for purchase 10. play the marketa. to speculate on a stock exchange b. to act aggressively or unscrupulously in one's own commercial interests 11. seller's (or buyer's) market a market characterized by excess demand (or supply) and thus favourable to sellers (or buyers)

Market

An open place or building where goods are offered for sale; a store or shop that sells a particular type of merchandise. Many such buildings have been restored and are still functioning in the same capacity, while others have been adapted to similar uses.

Market

 

the sphere of commodity exchange. Depending on their territorial boundaries and size, markets are referred to as local, national (internal or home), and world (external or foreign) markets. The market is the predominant and determining link between commodity producers, based on the social division of labor.

Under simple capitalist commodity production, the market is the vehicle for the spontaneous adaptation of the structure of commodity production to the volume and structure of social needs. In the market the social character of the expenditure of labor by individual commodity producers is recognized, and the socially necessary production conditions that determine the magnitude of the cost of goods and their market value are revealed and established. The basic elements of the market mechanism are price, supply, and demand. The magnitude of demand, which reflects the level of social needs, is limited by the buyers’ incomes, that is, by the purchasing power of the population. Supply characterizes the dynamics of social production and represents the totality of commodities received for final sale in the market (market resources). The relationship between supply and demand directly influences the formation of a definite price level. The movement of prices in the market ultimately reflects changes in labor productivity and the volume and proportions of social production, as well as the dynamics of monetary incomes.

The formation of the market is a long historical process, integrally connected with the development and deepening of the social division of labor and with the economic isolation of producers. V. I. Lenin wrote: “The home market appears when commodity economy appears: it is created by the development of this commodity economy, and the degree to which the social division of labor is ramified determines the level of its development” (Poln. sobr. soch., 5th ed., vol. 3, p. 60).

In the first stages of commodity exchange, market ties were random. The evolution of the forms of value and the transition from random, occasional barter transactions to regular production for sale led to the establishment of local markets. However, under precapitalist socioeconomic formations, the expansion of the structure and capacity of markets was limited by the prevalence of the subsistence economy. Precapitalist modes of production, which were characterized by backward technology and a low level of labor specialization, did not create opportunities for the intensive development of markets. Most of the goods brought to market were consumer goods, which did not have a significant effect on the processes of reproduction under the subsistence economy.

The market reaches the peak of its development under capitalism. The development of market ties is stimulated by the rapid growth of the productive forces and by the pursuit of surplus value. K. Marx wrote: “As soon as manufacture gains sufficient strength, and particularly large-scale industry, it creates in its turn a market for itself by capturing it through its commodities” (in K. Marx and F. Engels, Soch., 2nd ed., vol. 25, part 1, p. 369). Under capitalism, the development of the home market is characterized by the exacerbation of socioeconomic contradictions. At one extreme, social wealth is concentrated in the hands of the bourgeoisie; at the other, the proletariat develops, deprived of the means of production and forced to sell its labor power.

Under capitalist conditions, social reproduction is served by a system of markets: commodity markets, labor markets, and capital markets. Commodity markets are functionally classified as markets for the means of production and consumer goods markets. As capitalism develops, the transition of some commodity producers into the bourgeoisie creates markets primarily for the means of production. The ruin of small-scale commodity producers and their transformation into proletarians creates markets for consumer goods. The labor market occupies a special place under capitalism. Its distinguishing characteristic is that the supply of labor power always exceeds the demand. As a result, capitalists pay less for labor power than it is worth. The laws of anarchy and competition operate in the capitalist market. Under imperialism the cyclical character of capitalist reproduction is intensified by the struggle among the monopolies over markets for raw materials and sales and over spheres for the investment of capital.

With the development of large-scale machine industry, production outgrows national boundaries, and the world capitalist market is created. The development of external or foreign markets was promoted by increasing difficulties in selling output, as well as by the relatively narrow character of internal markets, owing to the deepening of the basic contradiction in capitalism between the social character of production and the private form of acquisition. The movement of commodities and services on the world market is based on world prices, which differ from price levels in particular countries. Bitter competitive struggle takes place in the world capitalist market, which is characterized by unstable, spasmodic development. The structure and direction of flows of commodities and services in the world capitalist market reflect the domination of the monopolies and the exploitation of the developing countries by the industrially developed imperialist countries, by means of nonequivalent exchange. With the emergence of the world socialist system after World War II (1939–45), there was no longer a single world capitalist market. The exacerbation of contradictions among the imperialists resulted in the intensification of integration processes in the world capitalist market, as well as in the establishment of closed trading blocs.

Because commodity-money relations survive under socialism, it is necessary to maintain markets. However, the purpose, sphere of action, and character of markets are substantially changed by the organization of the economy in conformity with a plan and by the prevalence of property owned by the entire people. Natural resources and fixed capital assets, such as plants and electric power stations, are taken out of market circulation, and the labor market disappears. Under socialism, the market no longer serves as a means of spontaneously taking stock of social labor. It acts as a component of the planned economy. Society, represented by state planning bodies, determines the volume and structure of production of the means of production and consumer goods. The plan sets targets for increases in labor productivity, wages, and retail trade turnover.

Socialist society still faces the problem of selling the output of profit-and-loss enterprises, which enter the market as relatively distinct commodity producers. The market functions as a control mechanism that informs planning bodies of noticeable trends in the relationship between production and consumption and reveals the accuracy of plan calculations and targets. In the internal socialist market, commodities are sold at planned wholesale and retail prices. The internal market serves state, cooperative, and kolkhoz trade, as well as the system of state procurement of agricultural produce and the material and technical supply of the means of production.

The world socialist market, which is fundamentally different from the world capitalist market, takes shape with the formation of the world socialist system and the development of the international socialist division of labor. Economic relations in the world socialist market are based on the principles of equivalence and mutual advantage. Commodity circulation is based on export-import plans, which are part of the national economic plans of the socialist countries. Exchange among these countries takes place on the basis of state foreign-trade and foreign-exchange monopolies, in conformity with long-term and short-term trade agreements. The world socialist market promotes a deepening of the international division of labor, the adjustment of the economic mechanism of socialist integration, the coordination of national economic plans, and the development of interstate specialization and cooperation.

The use of the market in socialist society has nothing in common with the ideas of market socialism. Although they do not formally deny the role of centralized planning, the advocates of market socialism argue that planning is most efficiently carried out through the operation of the law of value. They assert that the problem of optimizing national economic proportions is solved on the basis of market ties between the agents of socialist production. In addition to ignoring the high level of actual socialization in the socialist economy and the operation of the law of the planned development of the national economy, the concept of market socialism mechanically transfers the laws and principles of the system of free competition to socialist society.

The single world market did not disappear with the rise of two world markets, capitalist and socialist. Taking shape through the interaction of the two opposing markets, the world market is the economic foundation for the peaceful coexistence of the two social systems, which are engaged in economic competition.

REFERENCES

Marx, K. Kapital, vols. 1–3. In K. Marx and F. Engels, Soch, 2nd ed., vols. 23–25.
Lenin, V. I. “Po povodu tak nazyvaemogo voprosa o rynkakh.” Poln. sobr. soch., 5th ed., vol. 1.
Lenin, V. I. Razvitie kapitalizma v Rossii. Ibid., vol. 3.
Krutikov, F. A. Teoreticheskie osnovy opredeleniia emkosti rynka. Moscow, 1965.
Krutikov, F. A. Kon”iunktura rynka pri sotsializme. Moscow, 1968.
Kaganov, E. D. Sotsialisticheskoe vosproizvodstvo i rynok. Moscow, 1966.
Zolotarev, V. I. Mirovoi sotsialisticheskii rynok. Moscow, 1970.
Levin, A. I. Sotsialisticheskii vnutrennii rynok. Moscow, 1973.

A. A. KHANDRUEV


Market

 

one of the most important units of a city plan. In ancient Greece the market was located in the agora. In cities that developed during the classical period, the market, like the agora, had a regular layout. In the Hellenistic cities the rectangular market was surrounded on three or four sides by a colonnade, behind which the shops and storage areas were arranged. In ancient Rome, especially during the imperial period, the market was frequently part of a multipurpose complex, the forum.

In medieval European cities the market, which usually had an irregular layout, was surrounded by arcades. A rectangular layout was typical of the markets built according to plans in European and Eastern cities in antiquity, during the Middle Ages, or between the 17th and 19th centuries. The gostinyi dvor (merchants’ arcade) was one of several types of markets in Russia. During the 20th century, open-air markets have gradually given way to covered markets, which were once merely a part of the market complex in many countries.

What does it mean when you dream about a market?

Dreaming about a market is often a dream about everyday life in the economic realm. The exchanges that take place in relationships sometimes also have a market quality about them. Note that a dream market might be drawing on the meaning of a common idiom, such as “being in the market” for something, “cornering the market,” or the metaphorical meaning of a “cattle market.”

market


market

A popular term for the number of potential consumers of a product or service, which is defined by geography, industry, demographics or other means of commonality.

Market


Related to Market: money market, stock market, WhatsApp, Android Market

MARKET. A public place appointed by public authority, where all sorts of things necessary for the subsistence, or for the conveniences of life, are sold.
2. Markets are generally regulated by local laws.
3. By the term market is also understood the demand there is for any particular article; as, the cotton market in Europe is dull. Vide 15 Vin. Ab. 42; Com. Dig. h.t.

market


Market

Usually refers to the equity market. "The market went down today" means that the value of the stock market dropped that day.

Market

1. Informal for an exchange or over-the-counter medium for the trading of securities.

2. The economic actors with the need or desire for a certain product. For example, if telephone users desire more efficient service, this is a market for a new company to offer a better product.

3. To take steps to encourage customers to buy a product or patronize a business. See also: Marketing.

Market.

Traditionally, a securities market was a place -- such as the New York Stock Exchange (NYSE) -- where members met to buy and sell securities.

But in the age of electronic trading, the term market is used to describe the organized activity of buying and selling securities, even if those transactions do not occur at a specific location.

market

an exchange mechanism which brings together the sellers and buyers of a product. Markets, in practice, embrace a number of product, spatial and physical dimensions. In terms of product, a market can be defined as consisting of a group of goods or services which are viewed as substitute products by buyers. Thus, from a MARKETING point of view, women's' shoes and men's' shoes would be represented as constituting separate markets, that is, markets catering for the needs of different buyers (see MARKET SEGMENTATION).

Spatially, a market may be local, regional, national or international in scope, depending on such considerations as transport costs, product characteristics and the homogeneity of buyer tastes. For example, because of a high ratio of transport costs to value added, cement and plasterboard markets tend to be localized. Likewise, Bavarian beer caters for a specialized regional taste, while Coca-Cola, by contrast, is sold worldwide as a global brand.

Physically, seller and buyer exchanges may be transacted in a well-defined market place (for example a local fish market or wool exchange), or in a much more amorphous way (for example the buying and selling of stocks and shares by telephone through a nexus of international dealing offices). Finally, in some markets sellers deal directly with final buyers, while in others transactions are conducted through a chain of intermediaries such as wholesalers and retailers, brokers and banks.

Markets constitute the battlegrounds of business. Corporate success depends fundamentally on identifying and exploiting positions of COMPETITIVE ADVANTAGE which requires the effective application of appropriate strategies of PRODUCTION, MARKETING, etc. See COMMODITY MARKET, MONEY MARKET, STOCK MARKET, SPOT MARKET, FORWARD MARKET, INDUSTRY, MARKET STRUCTURE, MARKET-CONDUCT-PERFORMANCE SCHEME, MARKET SYSTEM, EQUILIBRIUM MARKET PRICE.

market

An EXCHANGE mechanism that brings together sellers and buyers of a PRODUCT, FACTOR OF PRODUCTION or FINANCIAL SECURITY (see TRANSACTION). Markets embrace a number of product, spatial and physical dimensions. In terms of product, a market can be defined as consisting of a group of goods or services that are viewed as substitute products by buyers. Thus, from a buyer's point of view, women's shoes and men's shoes would be represented as constituting separate markets, that is, markets catering for the needs of different buyers.

Spatially, a market may be local, regional, national or international in scope, depending on such considerations as transport costs, product characteristics and the homogeneity of buyer tastes. For example, because of a high ratio of transport costs to value added, cement and plasterboard markets tend to be localized. Likewise, Bavarian beer caters for a specialized regional taste, while Coca Cola, by contrast, is sold worldwide as a global brand.

Physically, seller and buyer exchanges may be transacted in a well-defined market place (for example, a local fishmarket or wool exchange) or in a much more amorphous way (for example, the buying and selling of stocks and shares by telephone through a nexus of international dealing offices or the sale of goods on the INTERNET (see E-COMMERCE). Finally, in some markets, sellers deal directly with final buyers, as is the case with telephone insurance and catalogue selling (see DIRECT SELLING/MARKETING) while in others transactions are conducted through a chain of intermediaries such as wholesalers and retailers, brokers and banks.

Economists generally define a market as a group of products that consumers view as being substitutes for one another (that is, they have a high CROSS-ELASTICITY OF DEMAND). This concept of the market may not correspond exactly with INDUSTRIAL CLASSIFICATIONS, which group products into industries (see INDUSTRY) in terms of their technical or production characteristics rather than consumer substitutability. For example, glass bottles and metal cans would be regarded by users as substitute packaging materials but are in fact allocated to different industrial classifications (the glass and metal industries respectively). By contrast, the industrial-classification category of‘steel products’, for example, can encompass such diverse users as civil engineers (reinforcing bars), car manufacturers (car bodies) and white-goods manufacturers (washing-machine shells). However, in the absence of reliable cross-elasticity of demand data, economists are often forced to fall back on industrial classifications as a best approximation of markets in empirical analysis.

The THEORY OF MARKETS distinguishes between markets according to their structural characteristics, in particular the number of sellers and buyers involved. A number of ‘market’ situations can be identified, including:

PERFECT COMPETITION = many sellers, many buyers
OLIGOPOLY = few sellers, many buyers
OLIGOPSONY = many sellers, few buyers
BILATERAL OLIGOPOLY = few sellers, few buyers
DUOPOLY = two sellers, many buyers
DUOPSONY = many sellers, two buyers
MONOPOLY = one seller, many buyers
MONOPSONY = many sellers, one buyer
BILATERAL MONOPOLY = one seller, one buyer

Such a classification serves well for theoretical analysis, and there is no need to make ‘fine’ distinctions relating to the boundaries of the market under consideration. However, from the point of view of applying policy, how widely or narrowly a market is defined depends largely upon the particular issue that the policy is concerned with and the degree of precision appropriate for that policy. For example, for macroplanning purposes, it may be appropriate to refer broadly to the ‘drinks’ market or ‘food’ market. From the point of view of applying COMPETITION POLICY, however, a disaggregation of such groupings into submarkets is necessary. Thus, the drinks market could be divided as between alcoholic and non-alcoholic drinks, and further divided as between the various types of alcoholic beverage - beer, spirits, wines, etc. See CONCENTRATION MEASURES.

Looked at dynamically a typical market will grow, reach maturity (see Fig. 158 , page 431 - PRODUCT LIFE CYCLE) and, in many cases, then decline (for example, the textile, coal and shipbuilding industries in the UK). See also LABOUR MARKET, FOREIGN EXCHANGE MARKET, STOCK EXCHANGE, CAPITAL MARKET, COMMODITY MARKET, MONEY MARKET, FUTURES MARKET.

market

A defined area from which one's customers may be drawn.The market size and boundaries will depend on the product offered (student housing, self-storage, estate lots for custom homes,professional offices for attorneys,etc.). A market can be defined in various ways.For example, it can be defined

1. By a radius from a certain point, such as the market within a 1-, 3-, or 5-mile radius of a development

2. By reference to natural boundaries consumers will not typically cross for goods and services, such as a highway, a particular city street, or even a bridge.

3. As an entire city

4. As all persons of a particular type within a city

An accurate description of one's market is essential to any development planning in order to assess the competition already existing in the market and the need for additional entrants.Market identification and description is also important for advertising and marketing services.(For example,there is no point in spending a large budget on citywide print advertising in newspapers and local magazines if your market lives and works within 3 miles of your location.)

See MK
See MK

market


Related to market: money market, stock market, WhatsApp, Android Market
  • all
  • noun
  • verb
  • phrase

Synonyms for market

noun fair

Synonyms

  • fair
  • mart
  • bazaar
  • souk

noun demand

Synonyms

  • demand
  • call
  • need
  • desire
  • requirement

noun trade

Synonyms

  • trade
  • business
  • dealing
  • commerce
  • trading
  • buying and selling

verb sell

Synonyms

  • sell
  • promote
  • retail
  • peddle
  • vend
  • offer for sale

phrase in the market for

Synonyms

  • in need of
  • wanting
  • seeking
  • lacking
  • wishing to buy

phrase on the market

Synonyms

  • on offer
  • on sale
  • up for sale

Synonyms for market

verb to offer for sale

Synonyms

  • deal
  • handle
  • merchandise
  • merchant
  • peddle
  • retail
  • sell
  • trade
  • vend

Synonyms for market

noun the world of commercial activity where goods and services are bought and sold

Synonyms

  • marketplace
  • market place

Related Words

  • activity
  • business enterprise
  • commercial enterprise
  • business
  • black market
  • buyer's market
  • buyers' market
  • soft market
  • gray market
  • grey market
  • seller's market
  • sellers' market
  • labor market
  • monopoly
  • monopsony
  • oligopoly

noun the customers for a particular product or service

Related Words

  • social class
  • socio-economic class
  • stratum
  • class
  • black market

noun a marketplace where groceries are sold

Synonyms

  • food market
  • grocery
  • grocery store

Related Words

  • greengrocery
  • market place
  • mart
  • marketplace
  • market
  • shelf
  • supermarket

noun the securities markets in the aggregate

Synonyms

  • securities industry

Related Words

  • securities market
  • stock exchange
  • stock market
  • industry
  • bear market
  • bull market
  • the City
  • the Street
  • Wall Street
  • money market
  • nondepository financial institution

noun an area in a town where a public mercantile establishment is set up

Synonyms

  • market place
  • mart
  • marketplace

Related Words

  • public square
  • agora
  • bazar
  • bazaar
  • food market
  • grocery
  • grocery store
  • market
  • mercantile establishment
  • outlet
  • retail store
  • sales outlet
  • market square
  • open-air market
  • open-air marketplace
  • slave market

verb engage in the commercial promotion, sale, or distribution of

Related Words

  • commerce
  • commercialism
  • mercantilism
  • merchandise
  • trade
  • offer

verb buy household supplies

Related Words

  • commerce
  • commercialism
  • mercantilism
  • shop

verb deal in a market

Related Words

  • commerce
  • commercialism
  • mercantilism
  • sell
  • trade
  • deal

verb make commercial

Synonyms

  • commercialise
  • commercialize

Related Words

  • commerce
  • commercialism
  • mercantilism
  • alter
  • change
  • modify
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