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 [[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. |