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A '''market''', in [[economics]], describes a situation in which [[seller]]s of a [[product]] or [[service]] interact with [[buyer]]s in order to effect [[transaction]]s that are amenable to both parties. The [[Law of Supply and Demand]] explains how [[price]]s are determined in such situations.
There are many [[politics|political]] implications involved in real world markets, as it is often thought that interfering in the free movement of goods and services is beneficial to society (or a country or locale) as a whole. Opinions can widely differ, hoever, on which such [[regulation]]s are justified, and which ones stifle the [[economy]] by interfering with [[free trade]] and its concomitant creation of ever-increasing wealth for all.
There are many [[politics|political]] implications involved in real world markets, as it is often thought that interfering in the free movement of goods and services is beneficial to society (or a country or locale) as a whole. Opinions can widely differ, hoever, on which such [[regulation]]s are justified, and which ones stifle the [[economy]] by interfering with [[free trade]] and its concomitant creation of ever-increasing wealth for all.