A marketplace where goods are traded within a specific geographic area.
Consider regional markets like your local farmer's market. Farmers from the surrounding area come to sell their produce directly to consumers. It's not global, but it serves a specific region.
Domestic Trade: This refers to the exchange of goods, services, or both within the boundaries of a specified state or country.
Supply and Demand: An economic model which states that the price at which an item is sold is determined by its availability (supply) and how much people want or need it (demand).
Economic Systems: The means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including labor, capital, entrepreneurs, physical resources, and information resources.
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