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Concept
Marketplace
Summary
A marketplace or market place is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a souk (from the Arabic), bazaar (from the Persian), a fixed mercado (Spanish), or itinerant tianguis (Mexico), or palengke (Philippines). Some markets operate daily and are said to be permanent markets while others are held once a week or on less frequent specified days such as festival days and are said to be periodic markets. The form that a market adopts depends on its locality's population, culture, ambient and geographic conditions. The term market covers many types of trading, as market squares, market halls and food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces.
Markets have existed for as long as humans have engaged in trade. The earliest bazaars are believed to have originated in Persia, from where they spread to the rest of the Middle East and Europe. Documentary sources suggest that zoning policies confined trading to particular parts of cities from around 3000 BCE, creating the conditions necessary for the emergence of a bazaar. Middle Eastern bazaars were typically long strips with stalls on either side and a covered roof designed to protect traders and purchasers from the fierce sun. In Europe, informal, unregulated markets gradually made way for a system of formal, chartered markets from the 12th century. Throughout the medieval period, increased regulation of marketplace practices, especially weights and measures, gave consumers confidence in the quality of market goods and the fairness of prices. Around the globe, markets have evolved in different ways depending on local ambient conditions, especially weather, tradition, and culture. In the Middle East, markets tend to be covered, to protect traders and shoppers from the sun. In milder climates, markets are often open air.
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