Business GCSE
Market
What Market means in Business GCSE, as defined for AQA.
Definitions of Market
Exam boards and our study guides word this term in slightly different ways. Learn the version your board uses.
Check what you remember
Read the wording for your board, then hide it and explain Market in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Any place, physical or online, where buyers and sellers exchange goods or services, and where price is influenced by demand and supply.
Any set of arrangements where buyers and sellers exchange a particular good or service.
Topics that use Market
- Competitive environment (AQA GCSE)
- The elements of the marketing mix: price, product, promotion and place (4Ps) (AQA GCSE)
Related terms
- Competition
- Unique Selling Point (USP)
- Access to customers
- Adaptation and reaction
- Adaptation to change
- Advertising
- Balancing
- Batch Production
Using Market in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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