the world of commercial activity where goods and services are bought and sold
"without competition there would be no market"
"they were driven from the marketplace"
an area in a town where a public mercantile establishment is set up
"The farmers gathered at the marketplace to sell their fresh produce directly to local residents."
An open area in a town housing a public market.
"The children ran through the bustling marketplace to buy fresh fruit from the stalls lining the cobblestones."
In plain English: A marketplace is any place where people buy and sell goods or services.
"The busy marketplace was filled with vendors selling fresh fruits and vegetables."
Usage: While historically referring to a physical open area in a town where goods are sold, marketplace now commonly describes any competitive environment or platform for buying and selling, such as the digital economy or a specific industry sector. Use it when you mean either the literal location of commerce or the abstract field where economic activity occurs.
The word marketplace is a straightforward combination of the words market and place. It was formed by joining these two common terms to describe an open area where goods are bought and sold.