...imperfect. Marshall's broad picture of competitive markets in the economic world of his day is as follows. Everyone buys, and nearly every producer sells, to...him. But nearly everyone has also some "particular" market; that is, some people or groups of people with whom he is in somewhat close touch; mutual knowledge...

...industrial market. We find emphatic confirmation of such an interpretation in Industry' and trade, viz: "Everyone buys, and nearly every producer sells, to...footing with others around him. But nearly everyone has some 'particular' markets" (Industry and trade, p. 182).12 Expenditures incurred in building up market...

...exrent in a 'general market, in which he is on the same footing with othets around him. But neatly everyone has also some 'particular' markets; that...he is in somewhat close touch: mutual knowledge and ttust lead him to approach them, and them to approach him, in preference to strangets. (Matshall 1919:...