"A market is a group of buyers and sellers of a particular good or service. The buyers as a group determine the demand for the product, and the sellers as a group determine the supply of the product. Markets take many forms. Some markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales. More often, markets are less organized."
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Academics from the United StatesEducators from the United StatesEconomists from the United StatesPeople from TrentonLiberals
Original Language: English
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Ch. 4. The Market Forces of Supply and Demand; p. 66
https://en.wikiquote.org/wiki/Greg_Mankiw
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Greg Mankiw
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