Domestic markets
Definition
Domestic markets refer to the buying and selling of goods and services within one's own country. It involves transactions that occur solely within the borders of that specific nation.
Related terms
Supply and demand: The relationship between how much of a product is available (supply) versus how much people want it (demand) within the domestic market.
Price controls: Government regulations that set maximum or minimum prices for certain goods, impacting supply and demand dynamics in domestic markets.
Market equilibrium: The point where the quantity supplied by producers matches the quantity demanded by consumers, resulting in stable prices.
"Domestic markets" appears in:
Practice Questions (1)
How does international trade impact competition in domestic markets?
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About Us
About Fiveable
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
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Glossary
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Crisis Text Line
Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.