Friday, January 8, 2010

Market and Sectors

A market is a place, physical or intangible, where consumers and producers come together to exchange information, goods and/or services. Examples include the Pick n' Save grocery store in Germantown, Wisconsin, a fruit and vegetable market in Aix-en-Provence, the New York Stock Exchange (NYSE) for stocks and bonds and the FOREX, or the market for currencies.

There are three sectors in the economy. The primary sector includes raw materials/natural resources (i.e. oil or gold). The secondary sector includes manufactured goods like tractors and steel. The tertiary sector includes services like legal representation and health care.

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