В. А. Шляхова, О. Н. Герасина, Ю. А. Герасина английский язык для экономистов english for economists

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and sell goods. In former days part of a town was kept as the market 
or marketplace, and people would travel many kilometers on special 
market days in order to buy and sell various commodities.
Today, however, markets such as the world sugar market, the 
gold market and the cotton market do not need to have any fixed 
geographical location. Such a market is simply a set of conditions 
permitting buyers and sellers to work together.
In a free market, competition takes place among sellers of the 
same commodity and among those who wish to buy that commodity. 
Such competition influences the prices prevailing in the market. 
Prices inevitably fluctuate, and such fluctuations are also affected 
by current supply and demand.
Whenever people who are willing to sell a commodity contact 
people who are willing to buy it, a market for that commodity 
is created. Buyers and sellers may meet in person, or they may 
communicate in some other way: by letter, by telephone or through 
their agents.
In a perfect market, communications are easy, buyers and 
sellers are numerous and competition is completely free. In perfect 
markets there can be one price for any given commodity, the lowest 
price which sellers will accept and the highest which consumers 
will pay.
There are, however, no really perfect markets and each 
commodity market is subjected to special conditions. It can be said 
however that the price ruling in a market indicates the point where 
supply and demand meet.

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