Market, in an ordinary sense,refers to a place where goods and services are purchased and sold .It may be an area where buyers and sellers meet with the intention of buying and selling.Market is also described as a set of all the buyers and sellers involved in actual or potential transactions over some goods and services.
"The term market refers to a place but a commodity or commodities and buyers and sellers who are in direct competition with one another."
Traditionally, a market was a place where buyers and sellers gathered to exchange their goods. Economist use the term market to refer to a collection of buyers and sellers who transact over a particulars product or products.
