Markets


 * Markets**

Kristina’s Wiki Topic- Markets Macroeconomics 2011 Class Discussion, Text Book and Class Notes Summary A Market is a mechanism that brings buyers and sellers together and assists them in negotiating the exchange of products. There is some important Terminology that must be considered when discussing Markets; · Market Price: the price available to all buyers and sellers · Equilibrium Quantity: the number of units bought and a sold in the market · Market Supply: The total quantity businesses are willing to sell at various prices · Market Demand: Total quantity consumers are willing to buy at various prices · Individual Demand: The quantity an individual is willing and able to purchase at various prices · Individual Supply: The quantity a supplier is willing and able to produce at various prices · Factors of Production: the productive resources that are available to an economy, they are categorized as land, labour, capital and enterprise When discussing Markets in Macroeconomics there are 4 important types of Markets to know about; 1. Product Market · Is the market for Consumer goods and services ·

2. Factor Market · Is the market for the Factors of Production ·  3. Financial Market · Is the market for financial capital ·  4. Foreign Exchange Market · Is the international market for currency ·

Additional Information ·   · Product Market Comic · [] ·   · Factor Market Comic · []