AskDefine | Define market

Dictionary Definition

market

Noun

1 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" [syn: marketplace]
2 the securities markets in the aggregate; "the market always frustrates the small investor" [syn: securities industry]
3 the customers for a particular product or service; "before they publish any book they try to determine the size of the market for it"
4 a marketplace where groceries are sold; "the grocery store included a meat market" [syn: grocery store, grocery, food market]

Verb

1 engage in the commercial promotion, sale, or distribution of; "The company is marketing its new line of beauty products"
2 buy household supplies; "We go marketing every Saturday"
3 deal in a market
4 make commercial; "Some Amish people have commercialized their way of life" [syn: commercialize, commercialise]

User Contributed Dictionary

English

Pronunciation

  • (UK) /ˈmɑːkɪt/, /"mA:kIt/
  • (US) /ˈmɑɹkɪt/, /"mArkIt/
  • Hyphenation: mar·ket

Etymology

From Old North French market ( marchiet, marché), from mercatus "trade; market", derived from merx "merchandise". Related are merchant and Mercury (among other things the Roman god of commerce).

Noun

  1. City square or other place where traders set up stalls and buyers browse the merchandise.
    The crowds at the market were quite noisy.
    We're going to the market to get some fresh vegetables and fruits.
  2. Place or network where trading takes place.
    There was heavy trading of stock in the market today.
    The market is a process, actuated by the interplay of the actions of the various individuals cooperating under the division of labor.
    Definition used by famous economist of the Austrian school, Ludwig Von Mises, in his book Human Action.
  3. Group of customers that possibly want to buy one's product.
    We believe that the market for the new widget is the older homeowner.
  4. The sum total of trades in a process of individuals trading for certain commodities.
market square
  • Danish: marked , markedsplads , torv
  • Finnish: tori, kauppatori
  • German: Markt
  • Greek: αγορά (agorá)
  • Hebrew: שוק (shuq)
  • Hungarian: piac, vásárcsarnok
  • Japanese: (, ichiba)
  • Kurdish: bazar, بازار
  • Russian: рынок, базар
  • Serbian: trg
  • Spanish: plaza
place for trading in general
  • Czech: trh
  • Danish: marked
  • Finnish: markkinat
  • German: Markt
  • Hebrew: שוק (shuq)
  • Hungarian: tőzsde
  • Japanese: (, shijō)
  • Kurdish: bazar, بازار
  • Russian: рынок
  • Serbian: tržište, buvljak, trg
  • Spanish: mercado
group of customers
  • Danish: marked
  • Finnish: asiakaskunta
  • German: Markt
  • Hebrew: שוק (shuq)
  • Hungarian: piac, vevőkör
  • Russian: рынок
  • Serbian: trgovac , trgovnica
total sum of trades
  • Czech: trh
  • Danish: handel
  • Finnish: markkinat
  • German: Markt
  • Japanese: (, shijō)
  • Russian: торговля
  • Serbian: trgovina

Verb

  1. Making products available for sale and promoting them.
    We plan to market it by next quarter.

Translations

making products available and promoting them

Adjective

market (no or )
  1. With relation to the market.
    We waited to hear the latest market results.

Translations

relating to the market

Extensive Definition

For the island shared by Finland and Sweden, see Märket.
In economics, a market is a social structure that has emerged more or less spontaneously or has been constructed deliberately by human interaction to enable the exchange of rights (cf. ownership) of services and goods. Markets enable services, firms and products to be evaluated and priced. There are two roles in markets, buyers and sellers. The definition implies that at least three actors are needed for a market to exist; at least one actor, on the one side of the market, who is aware of at least two actors on the other side whose offers can be evaluated in relation to each other. A market allows buyers and sellers to discover information and carry out a voluntary exchange of goods or services. This is commonly done through trade. These trades may be handled a variety of ways, but in small market environments, buyers and sellers typically deal in currency, and goods. In everyday usage, the word "market" may also refer to the location where goods are traded, or in other words, the marketplace.

Types of markets

Although many markets exist on the traditional sense--such as a flea market--there are various other types of markets and various organizational structures to assist their functions.
A market can be organized as an auction, as a private electronic market, as a shopping center, as a complex institution such as a stock market, and as an informal discussion between two individuals.
In economics, a market that runs under laissez-faire policies is a free market. It is "free" in the sense that the government makes no attempt to intervene through taxes, subsidies, minimum wages, price ceilings, etc. Market prices may be distorted by a seller or sellers with monopoly power, or a buyer with monopsony power. Such price distortions can have an adverse effect on market participant's welfare and reduce the efficiency of market outcomes. Also, the level of organization or negotiation power of buyers, markedly affects the functioning of the market. Markets where price negotiations do not arrive at efficient outcomes for both sides are said to experience market failure.
Most markets are regulated by state wide laws and regulations. While barter markets exist, most markets use currency or some other form of money.
Markets of varying types can spontaneously arise whenever a party has interest in a good or service that some other party can provide. Hence there can be a market for cigarettes in correctional facilities, another for chewing gum in a playground, and yet another for contracts for the future delivery of a commodity. There can be black markets, where a good is exchanged illegally and virtual markets, such as eBay, in which buyers and sellers do not physically interact. There can also be markets for goods under a command economy despite pressure to repress them.
The market can be divided into several types according to various functions. Most investors prefer investing in two markets, the stock markets and the bond markets. NYSE, AMEX, and the NASDAQ are the most common stock markets in the US.

See also

References

Marshall, A. (1961). Principles of Economics. C. W. Guillebaud, Ed. 2 Vol. London: Macmillan.

Sources

  • Microeconomics by Robert S. Pindyck, Daniel L. Rubinfeld
market in Arabic: سوق
market in Aymara: Rikuwa
market in Bosnian: Tržište
market in Catalan: Mercat
market in Czech: Trh
market in Chuvash: Пасар
market in German: Markt
market in Estonian: Turg
market in Spanish: Mercado
market in Esperanto: Merkato
market in Persian: بازار
market in French: Marché
market in Galician: Mercado
market in Classical Chinese: 市場
market in Korean: 시장 (경제)
market in Hindi: बाज़ार
market in Croatian: Tržište
market in Indonesian: Pasar
market in Icelandic: Market
market in Italian: Mercato
market in Hebrew: שוק (כלכלה)
market in Latvian: Tirgus
market in Hungarian: Piac
market in Dutch: Markt (economie)
market in Japanese: 市場
market in Norwegian Nynorsk: Marknad
market in Narom: Marchi
market in Polish: Rynek (ekonomia)
market in Portuguese: Mercado
market in Quechua: Qhatu
market in Russian: Рынок
market in Simple English: Market
market in Slovak: Trh
market in Serbian: Тржиште
market in Finnish: Markkinat
market in Swedish: Marknad
market in Thai: ตลาด
market in Vietnamese: Chợ
market in Chinese: 市場

Synonyms, Antonyms and Related Words

Dow-Jones Industrial Average, Wall Street, agora, auto show, balance of trade, bazaar, be in, big business, bill of sale, boat show, browse, business, business dealings, buy and sell, call, campo, carriage trade, carry, clientage, clientele, close out, commerce, commercial affairs, commercial complex, commercial relations, competitive market, convert into cash, custom, cut under, deal in, dealing, dealings, demand, dump, effect a sale, emporium, exchange, exposition, fair, fair trade, flea fair, flea market, forum, free trade, furnish, give, go marketing, go shopping, handle, hawk, industry, intercourse, job, long market, make a sale, make available, market cross, market index, market overt, marketing, marketplace, mart, mass market, mercantile business, merchandise, merchandising, merchantry, move, multilateral trade, open market, outlet, patronage, peddle, piazza, place, plaza, public, purchasing public, reciprocal trade, resell, restraint of trade, retail, retailing, rialto, rural market, sacrifice, sale, sales, sell, sell off, sell on consignment, sell out, sell over, sell retail, sell short, sell up, sell wholesale, selling, shop, shopping center, shopping mall, shopping plaza, show, showroom, small business, spotty market, square, staple, steady market, stiff market, stock market, stock price index, store, street market, strong market, suburban market, supermarket, the business world, the market, the marketplace, ticker market, tie-in, top-heavy market, trade, trade fair, trade in, traffic, traffic in, truck, turn into money, turn over, turnover, undercut, undersell, unilateral trade, unload, unsteady market, vend, weak market, wholesale, wholesaling, wholesome, window-shop, youth market
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