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"Market": A Definition For Teaching

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  • Houck, James P.

Abstract

This short piece is an abstract, partial equilibrium approach to defining the term "market" in terms useful to students of agricultural economics. Neither the short, dictionary-style definitions, nor the longer, more discursive descriptions available are altogether satisfactory for teaching students what a market is--especially in terms consistent with the basic theoretical constructs that we insist they learn. This particular attempt uses familiar concepts of supply and demand but presents them so as to highlight the idea of a "market."

Suggested Citation

  • Houck, James P., 1984. ""Market": A Definition For Teaching," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(2), pages 1-4, December.
    • Handle: RePEc:ags:wjagec:32145
    DOI: 10.22004/ag.econ.32145
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    File URL: https://ageconsearch.umn.edu/record/32145/files/09020353.pdf
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    References listed on IDEAS

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    1. Willard W. Cochrane, 1957. "The Market as a Unit of Inquiry in Agricultural Economics Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 39(1), pages 21-39.
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    Cited by:

    1. Richard J. Sexton & Catherine L. Kling & Hoy F. Carman, 1991. "Market Integration, Efficiency of Arbitrage, and Imperfect Competition: Methodology and Application to U.S. Celery," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(3), pages 568-580.
    2. Jones, Rodney & Purcell, Wayne & Driscoll, Paul & Peterson, Everett, 1996. "Issues and Cautions in Employing Behavioral Modeling Approaches to Test for Market Power," Staff Papers 232517, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    3. repec:ags:vtaesp:232464 is not listed on IDEAS

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    Keywords

    Marketing;

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