Changes

[[Image:Market.jpg|thumb|The North Market, Columbus, Ohio]]

[[Image:Market.jpg|thumb|The North Market, Columbus, Ohio]]

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 [[Supply and demand|Law of Supply and Demand]] explains how [[price]]s are determined in such situations.

A '''market''', in [[economics]], describes a situation in which sellers of a [[product]] or [[service]] interact with [[buyer]]s in order to effect transactions that are amenable to both parties.  The [[Supply and demand|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, however, 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, however, 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.