Economics GCSE
Market
What Market means in Economics GCSE, as defined for AQA, Pearson Edexcel.
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 or mechanism where buyers and sellers interact to exchange goods and services, usually for money.
A place or mechanism where buyers and sellers meet to engage in exchange.
Topics that use Market
- Markets and allocation of resources (AQA GCSE)
- The market system (Pearson Edexcel GCSE)
Related terms
- Circular flow of income
- Demand
- Efficiency and resource allocation
- Equilibrium price
- Factor market
- Factors of production
- Market economies
- Market forces
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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