Market Economy

What is a market?To understand what a market economy is you must learn about the forces of demand and supply.

The interaction of the demand and supply forces create a market for a product. The market settles the sale between buyer and seller, or consumer and producer. The demand and supply.

The market economy works because of the way consumers and producers go about their business.

Producers make what they can sell.  This means consumer demand drives what the economy makes.



What is a Market?

What is a Market? A market is a place (physical or virtual) where buyers meet sellers to purchase a good or service. An example of a market is a sharemarket. Another is a farmer’s market, where growers and small producers of cheese, wine, jams and so on bring their produce to …

Read More