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Define of Explain the Following Concept. Market - Economics

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Question

Define of Explain the following concept.  

 Market 

Solution

Market refers to a place or a situation where the buyers and sellers meet in order to exchange goods and services. Here, the consumers and the suppliers are in close contact with each other and the prices are determined by the market supply and demand factors.

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Analysis of Market Structure
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2010-2011 (March)

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