Question

Any place where, or any mechanism by which, buyers and sellers interact to trade goods, services, or resources is a(n)?

Answer 1

Any place where, or any mechanism by which, buyers and sellers interact to trade goods, services, or resources is a market.

A market is a place where parties can easily gather to facilitate the exchange of goods and services. The parties which are involved in the market  are usually buyers and sellers.

The market can be in the form of physical structure like a retail outlet, where people meet with each other  face-to-face, or it can be in the virtual form like an online market in which  there is no direct physical contact  happens between buyers and sellers.

Markets generally establish the prices of goods and services which are determined by supply and demand.

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