The concept of market

In the economic literature there are many definitions of the market.

A. Marshall relied on the definition of the English economist William Stanley Jevons, who understood the market as any group of people who have close business relations and major transactions in relation to any goods.

From the definition of Lenin commodity production that market - a form of the relationship between the individual, the isolated producers.

The Encyclopaedia Britannica describes the market as a set of tools through which the exchange of goods and services as a result of contact buyers and sellers together.

Friedrich Hayek understood the market as a complex transfer device that allows you to fully and effectively use information scattered among the myriad of individual agents.

For your information. Friedrich Hayek - Austrian economist and philosopher, representative of the new Austrian school, a supporter of liberal economics and the free market. The Nobel Prize in Economics (1974), received her work in the theory of money, market fluctuations and analysis of the interdependence of economic, social and structural phenomena.

Kotler, dealing with the problems of marketing, defines the market as a set of existing and potential buyers of the goods.

In modern economic literature, the most common is the determination, in which the market is seen as a mechanism or device that makes contact between buyers and presenters demand, and sellers or suppliers of goods and services.

The above definition of the market contain the general and the particular. It is generally accepted that the market - a set of relationships between buyers and sellers.

Since these complex relationships, multi-faceted, consisting of multiple systems and units, economists from different schools and see them in the plane in which the problem is investigated by them.

For example, Kotler sees the market in terms of marketing, FA Hayek - from the perspective of information that gives the market

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