When buyers (consumers) and sellers (providers) of goods and services meet, the result ¶ is a market. In most cases, the meeting is not physical but virtual. Advances in communication technology have facilitated the development of such markets.
Every participant in a market pursues his own specific interests. The seller wants to sell at the highest possible price and has an idea of a minimum price. The buyer wishes to buy at the lowest possible price and has an idea of a maximum price. The interaction of buyer and sel…