Table of Contents
Definition of Market Exchange
(noun) An economic system in which goods and services are produced, distributed, and exchanged by the forces of price, supply, and demand.
Example of Market Exchange
- Farmers take their crops to a local market and sells them to the public.
Market Exchange Pronunciation
Syllabification: mar·ket ex·change
Audio Pronunciation
Phonetic Spelling
- American English – /mAHR-kuht iks-chAYnj/
- British English – /mAHk-it iks-chAYnj/
International Phonetic Alphabet
- American English – /ˈmɑrkət ɪksˈʧeɪnʤ/
- British English – /ˈmɑːkɪt ɪksˈʧeɪnʤ/
Usage Note
- Plural: market exchanges
Related Video
Additional Information
- Economic Sociology Resources – Books, Journals, and Helpful Links
- Word origin of “market” and “exchange” – Online Etymology Dictionary: etymonline.com
Related Terms
- allocation of resources
- distribution
- division of labor
- economic system
- market economy
- production
- reciprocal exchange
- redistribution
- society
- subsistence economy
- technology
Cite the Definition of Market Exchange
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2014. “market exchange.” In Open Education Sociology Dictionary. Retrieved April 26, 2024 (https://sociologydictionary.org/market-exchange/).
APA – American Psychological Association (6th edition)
market exchange. (2014). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/market-exchange/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2014. “market exchange.” In Open Education Sociology Dictionary. Accessed April 26, 2024. https://sociologydictionary.org/market-exchange/.
MLA – Modern Language Association (7th edition)
“market exchange.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 26 Apr. 2024. <https://sociologydictionary.org/market-exchange/>.