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market exchange

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

  • IPA Pronunciation
    • American English
      • /ˈmɑrkət ɛksˈtʃeɪndʒ/
    • British English
      • /ˈmɑːkɪt ɛksˈtʃeɪndʒ/
  • Syllabification: (mar·ket ex·change)

Usage Note

  • Plural: market exchanges

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Cite the Definition of Market Exchange

ASA – American Sociological Association (5th edition)

Bell, Kenton, ed. 2014. “market exchange.” In Open Education Sociology Dictionary. Retrieved October 15, 2019 (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 October 15, 2019. https://sociologydictionary.org/market-exchange/.

MLA – Modern Language Association (7th edition)

“market exchange.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 15 Oct. 2019. <https://sociologydictionary.org/market-exchange/>.