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A hypothetical construct of economic theory representing the place all potential buyers and sellers of all goods and services come together, express their desires and offer their wares, through bargaining establish a price structure and production schedule, and complete their transactions. In standard usage it refers to all locations where economic transactions occur treated as a single whole.
Concept Schemes:
Broader Concept:
Entry Terms:
  • market places
  • marketplaces
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RDF/XMLCreated 2006-01-19, last modified 2020-05-15