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MIAMI A
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LSDefine
Simple English definitions for legal terms
buyer's market
Read a random definition: National Science Foundation
A quick definition of buyer's market:
A buyer's market is when there are more things for sale than people who want to buy them. This means that the prices are usually lower because sellers have to compete with each other to get buyers. It's like when there are a lot of toys at a garage sale and not many people want to buy them, so the prices go down.A more thorough explanation:
A buyer's market is a situation in which there is more supply of a product or service than there is demand for it. This results in lower prices and more bargaining power for buyers.
For example, if there are many houses for sale in a particular area but few people looking to buy, it is a buyer's market. Buyers can negotiate lower prices and better terms because there is more competition among sellers.
Another example is the job market. If there are more job openings than there are qualified candidates, it is a buyer's market for job seekers. They can negotiate higher salaries and better benefits because employers are competing for their skills.
Overall, a buyer's market is a good situation for buyers because they have more options and more power to negotiate favorable terms.