page_title: Market (economics)
section_title: Research
hierarchical_section_title: Market (economics) / Research
caption_attribution_description: An Afghan market teems with vendors and shoppers on Feb. 4, 2009. U.S. Army National Guard Photographer Staff Sgt. Russell Lee Klika, who now serves with U.S. Army soldiers of the 2nd Battalion, 19th Special Forces Group of the West Virginia Army National Guard has begun capturing this and other scenes of daily life throughout Afghanistan. The unit recently deployed to conduct missions around the country in support of Operation Enduring Freedom XIII.
context_page_description: A market is one of a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and resource allocation in a society. Markets allow any trade-able item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale.
context_section_description: Disciplines such as sociology, economic history, economic geography and marketing developed novel understandings of markets studying actual existing markets made up of persons interacting in diverse ways in contrast to an abstract and all-encompassing concepts of "the market". The term "the market" is generally used in two ways:
  "The market" denotes the abstract mechanisms whereby supply and demand confront each other and deals are made; in its place, reference to markets reflects ordinary experience and the places, processes and institutions in which exchanges occurs
  "The market" signifies an integrated, all-encompassing and cohesive capitalist world economy.
caption: An Afghan market teeming with vendors and shoppers
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