Market is defined as an arrangement or facility that enables buying and selling to take place. It is an organization whereby buyers and sellers are kept in close contact with one another. E.g. Onitsha main market.

Contact could be through telephone, telegraph or by letter. However, market is not only a particular place as the layman sees it. The most important thing here is the ability of buyers to strike a bargain with the sellers.

Therefore, market is an arrangement or mechanism by which buyers and sellers are brought together with the motive of exchanging goods and services.

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