What is an open market and who can participate in an open market? Explain in detail? -

i need this answer by November 27,2009

Essentially an open market is a market in which goods or services change hands at a price agreed between a willing buyer and a willing seller. (You will understand that market here is not a reference to a physical place, but simply to the concept of buying and selling). The point of an open market is that anyone can participate.