Nonmarkets

Part of speech: noun

Definitions

1. A type of economic environment where goods and services are exchanged outside of formal market systems
2. settings where transactions occur without established pricing or competition
3. areas of trade that operate outside typical market regulations and structures

Etymology: "Nonmarket" is a plain compound: the prefix "non-", meaning "not" (from Old English "nān", "not one," which wore down to "non-" over the Middle English period), attached to "market." The result describes anything that falls outside buying and selling, such as a household, a charity, or a government service. The plural "nonmarkets" is simply the standard plural of that compound. In economics and business writing, it is used to name a whole category of settings where exchange happens without a set price or rival sellers competing for custom, such as a family sharing chores or a public library lending books.