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E-Commerce
Markets and Mechanisms
7
Computer Science
Graduate
03/08/2009

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Cards

Term
Market
Definition
An environment where agents interact in order to exchange goods and services
Term
Money
Definition
Standardized currency which allow the terms of exchange for a variety of goods to be expressed with respect to a common scale of value
Term
Market-based transaction
Definition
Exchange of goods for money
Term
Price
Definition
Quantity of money for which a good with a standardized description can be exchanged
Term
Market prices
Definition
Prices that are determined through the communications of agents offering to buy and sell goods to each other
Term
Unit prices
Definition
Price of goods that are exchanged in quantity; ratio at which goods can be effectively exchanged for each other
Term
Barter
Definition
Exchange of goods
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