Domestic markets refer to the buying and selling of goods and services within one's own country. It involves transactions that occur solely within the borders of that specific nation.
Related terms
Supply and demand: The relationship between how much of a product is available (supply) versus how much people want it (demand) within the domestic market.
Price controls: Government regulations that set maximum or minimum prices for certain goods, impacting supply and demand dynamics in domestic markets.
Market equilibrium: The point where the quantity supplied by producers matches the quantity demanded by consumers, resulting in stable prices.