Chapter 2
The Market System
Book
Version 3
By Boundless
By Boundless
Boundless Economics
Economics
by Boundless
Section 1
Introducing the Market System
![Thumbnail](../../../../../figures.boundless-cdn.com/19942/square/asdaq-stock-market-display.jpeg)
Defining a Market System
A market system is a way to match buyers and sellers.
![Thumbnail](../../../../../figures.boundless-cdn.com/19985/raw/economic-surpluses.jpg)
Gains from Markets
Gains in a market are referred to as total welfare or economic surplus.
![Thumbnail](../../../../../figures.boundless-cdn.com/19987/raw/-opportunity-cost-straight.jpg)
Production Possibility Frontier
A production-possibility frontier (PPF) graphs the combinations for the production of two commodities with which the same amounts are used.
![Thumbnail](../../../../../figures.boundless-cdn.com/20196/raw/ssibilities-frontier-curve.jpg)
The Circular Flow Model
In economics, a circular flow model is a diagram that is used to represent the monetary transactions in an economy.
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Chapter 2
The Market System
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