Abstract Market Theory

Abstract Market Theory is a framework used to study and understand economic markets by focusing on their fundamental structures and behaviors rather than specific details like particular goods or regulations. It considers elements such as buyer and seller interactions, pricing, supply and demand, and how these components lead to market equilibrium. By using simplified models and mathematical tools, it helps analyze how markets function, predict outcomes, and identify factors that influence efficiency and stability. This theory provides a foundational understanding applicable across various markets, regardless of their specific characteristics.