Market
From the Simple English Wikipedia, the free encyclopedia that anyone can change
A market is a place where people go to buy or sell things. When people have products to sell, they set up a market place. When things are sold, people buy the product, and this stimulates the economy. The market is a good way of balancing supply and demand because prices change quickly to signal what goods are in high or low supply or high or low demand.
[change] Competition
If a seller of a good cannot supply what costumers want or ask for too high of a price, other sellers may try to supply that good. If other sellers enter the market for that good, in competition, that will tend to fulfill demand and lower prices. Sellers do not like competition and may try to kill the competition. Sellers that kill competition want to earn profits that they should not get, and they must be stopped by laws.
