The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MARKET SYSTEM Definition & Legal Meaning

Definition & Citations:

Permitted interaction between buyers and sellers as this social network. Rules, regulations, and involved entities’ reputations and credentials are included. Market players bid and ask within the market system. Several types of market systems currently exist: Auctions, rationing, black market, free market, real estate market, stock market, and the like.


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