The Enterprise and Economic Development Glossary a resource of the .network library

market:

... a venue where the forces of supply and demand are interactive, especially, to the extent that there exists an intrinsic potential (power) for an enterprising entity to gain or profit when transacting with a another that either accepts a product or uses a service offered. It's a generator within an economy as a marketplace where there are deals, contracts, barters and purchases.

An identified market is where transactions are observed, i.e., a languorous market power is known to be activated and produced transactions. A market share is gained when an individual or enterprise continues to serve an identified market. Market research is used, among other things, to stake out a projected market. Whether identified or projected, markets are places of commerce where goods and services are delivered to end users — where buyers and sellers interact directly or through intermediaries, such as brokers.

Potential markets exist at the end or transaction points within supply chains which has ultimate end users at their ends. Search the Web for more about the marketplace and markets.

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define market power:

... the extent to which the price of goods and services is influenced in the marketplace by a force involved in supply and demand. As an economic concept the expression may refer to a particular supplier or consortium, or even a group of buyers, able to change the perfect competition aspect of a market. Perfect competition in the marketplace means that no market power exists. However, an enterprise that advertises may gain power over a competitor that doesn't. Likewise, a small business offering the same product as that of a substantial competitor which moves into its area with aggressive market muscle showing is likely to be overpowered. A definition of market power is available at the Organization for Economic Co-operation and Development website.

To query the Web for more information about markets, especially as they relate to economies and enterprise and economic development, copy and paste the following italicized text lines to the Google/.network search engine provided below. Keep quotation marks intact. To add searches inside .network websites, CLICK HERE

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