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Definitions from the Web

market norms

Definition: Market norms is a concept used in economics and social psychology to refer to standards and expectations derived from market transactions.

Sample sentences:

1. Under market norms, individuals are motivated by financial incentives to maximize their own self-interest.
2. Social relationships based on market norms tend to be transactional and focused on exchanges of goods or services.
3. While interpersonal relationships are often governed by social norms, business relationships are typically regulated by market norms.
4. Companies set their prices according to market norms to ensure competitiveness and profitability.
5. When conducting market research, it is important to consider both social and market norms to understand consumer behavior.

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• Books on market norms
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