Buyers, sellers and markets

Buyers, sellers and markets Economics and business Year 8

Have you heard of a farmers market; the real estate market; the car market; the stock market?

A market is when buyers and sellers come together 'for the purpose of exchange' - to buy and sell things

What would be happening in this market (Stuttgart, Germany 1880s). Who are the buyers and sellers and what are they exchanging?

Homes for sale, Britain

What's bought and sold in this market?

or this one?

New York Stock Exchange on Wall St

Markets are the 'cornerstone' of our economy. They answer some key questions - what will be produced, how will it be produced, and who will benefit from the use of resources in production?

In markets, consumers have considerable freedom of choice, and producers decide the best way to produce

Pixaby

or perhaps ...

Pixabay

Buyers and sellers, acting in their own interest, decide how much is bought, and what prices are charged.

This Spark accompanies the Yourtown Economics and Business topic 'Markets and the interaction of buyers and sellers, written for Australian Curriculum Economics and Business Year 8.

Also see https://spark.adobe.com/page/sSYyOleX3jlRC/

Created By

Greg Parry

Appreciate

Credits:

Pixabay (no attribution required); Castle and Cubby; Greg Parry

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Buyers, sellers and markets Economics and business Year 8

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