Good morning, I have been reading a book in which the author said that "the supermarket is not a market, because despit the large number of buyers, the seller is unique".

So, I've been wondering because according to me, even if the market has just a one seller, we can consider it as a market. Then, if we consider the competition on this market, there's only one seller and if we consider that this supermarket is the only one in a country, we could say that it's a monopolistic market (no competition).

What do you think ?

  • 3
    $\begingroup$ Definitions are flexible, and depends upon the context. If I were writing a text on trading in financial markets, a “monopolist market” would not qualify, as the mechanics of price determination is completely different. Since “market” is a word that pre-dates the discipline of economics, it will have flexible meanings. $\endgroup$ – Brian Romanchuk Apr 29 '20 at 12:25
  • $\begingroup$ A market is an abstraction where many buyers match with many sellers. A supermarket is a company that sells stuff to you. If Walmart is a market then Microsoft is a market - these are both nonsense. But there's a food market and an operating system market. $\endgroup$ – user253751 May 1 '20 at 10:34

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