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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

Pronunciation Usage Guide

Syllabification: mar·ket ex·change

Audio Pronunciation

– American English
– British English

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

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Additional Information

Related Terms


Cite the Definition of Market Exchange

ASA – American Sociological Association (5th edition)

Bell, Kenton, ed. 2014. “market exchange.” In Open Education Sociology Dictionary. Retrieved June 2, 2020 (http://sociologydictionary.org/market-exchange/).

APA – American Psychological Association (6th edition)

market exchange. (2014). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from http://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 June 2, 2020. http://sociologydictionary.org/market-exchange/.

MLA – Modern Language Association (7th edition)

“market exchange.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 2 Jun. 2020. <http://sociologydictionary.org/market-exchange/>.