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A market is a place where people regularly gather to buy and sale of provisions, livestock, and other goods. In different parts of the world, the market can be described as a souk (from Arabic), a bazaar (from Persian), a fixed mercado (Spanish) or a wandering tianguis (Mexico) or palengke (Philippines). Some markets operate daily and are considered permanent markets, while others are held once a week or on less frequent days such as festival days and are said to be recurring markets. The form that a market takes depends on the locality’s population, culture, environment and geographic condition. The term “market” encompasses many types of trading, such as market squares, market halls and catering halls, as well as their various varieties. Therefore, markets can be located both outdoors and indoors.
Markets have been around since people have traded. It is believed that the earliest bazaars originated in Persia, from where they spread to the rest of the Middle East and Europe. Documentary sources suggest that zoning policies restricted trade to certain parts of cities from about 3000 BC, creating the necessary conditions for the emergence of a bazaar. Middle Eastern bazaars typically featured long strips of stalls on either side and a covered roof designed to protect merchants and shoppers from the scorching sun. In Europe, informal, unregulated markets gradually give way to the 12th century formal leased market system. In the Middle Ages, increased regulation of market practices, especially weights and measures, giving consumers confidence in the quality of marketable goods and fair prices. Markets around the world develop in different ways depending on local environmental conditions, especially weather, traditions and culture. In the Middle East, markets usually close to protect merchants and buyers from the sun. In milder climates, markets are often outdoors. There is a common system of morning markets in Asia selling fresh produce and night markets perishable food.
Today, markets can be accessed electronically or over the Internet through e-commerce platforms.
In many countries, shopping in the local market is a common thing in everyday life. Given the role of the market in providing food to the population, markets are often strictly regulated by a central government. In many places, certain markets have become listed sites of historical and architectural significance and are part of the cultural values of a city or country. For these reasons, they often become popular tourist destinations.
Markets have been around since ancient times. Some historians argue that the market has existed since humans first started trading. Open-air public markets were known in ancient Babylonia, Assyria, Phoenecia, Greece, Egypt and the Arabian Peninsula.
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