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About: Market system     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatEconomicSystems, within Data Space : dbpedia.org associated with source document(s)

Type: Thingyago:Abstraction100002137yago:Economy108366753yago:Group100031264yago:System108435388yago:WikicatEconomicSystems New Facet based on Instances of this Class

A market system (or market ecosystem) is any systematic process enabling many market players to offer and demand: helping buyers and sellers interact and make deals. It is not just the price mechanism but the entire system of regulation, qualification, credentials, reputations and clearing that surrounds that mechanism and makes it operate in a social context. Some authors use the term "market system" to refer to specifically to the free market system. This article focuses on the more general sense of the term according to which there are a variety of different market systems.