Definition of Market

Market is part of the economy is one of the various systems, institutions, procedures, social relations and infrastructure in which businesses sell goods, services and labor for the people in exchange for money. Goods and services sold using such legal tender fiat currency. This is the arrangement that allows buyers and sellers to exchange items. Competition is very important in the market, and separate from the trade market. Two people might do the trade, but it takes at least three people to have a market, so there is competition in at least one of the two sides. Markets vary in size, scope, geographic scale, location, type and variety of the human community, and other types of goods and services traded. Some examples include local farmers' markets held in the town square or parking lots, shopping centers and shopping malls, international currency and commodity markets, the law creating such a market for pollution permits, and illegal markets such as markets for illicit drugs.
In mainstream economics, the concept of the market is any structure that allows buyers and sellers to exchange any type of goods, services and information. The exchange of goods or services for money is a transaction. Market participants consist of all the buyers and good sellers that affect its price. This influence is a major study of economics and has spawned several theories and models of basic market forces of supply and demand. There are two roles in the market, buyers and sellers. Markets facilitate trade and enable the distribution and allocation of resources in society. Markets allow all the items traded for evaluation and pricing. An emerging market is more or less spontaneous or deliberately constructed by man to enable the exchange of rights (cf. ownership) of services and goods.(source:http://id.wikipedia.org/wiki/Pasar)