Goods are tangible objects that satisfy human wants or needs while services are intangible objects that do not satisfy human wants or needs but rather provide for those wants or needs to be satisfied at some point in the future (e.g., insurance).

A market is a composition of systems, institutions, procedures and social relations whereby parties engage in exchange.

Because transactions are grouped together, there is an increase in liquidity.

The exchange determines the price based on the number of bid and ask orders.

A call market is a type of market in which each transaction takes place at predetermined intervals and where all of the bid and ask orders are aggregated and transacted at once.

There is no liquidity premium in a call market.

Yes, labour and capital.

In order to get what they need/want from others who have something they need/want. This is known as specialization which allows for an increase in productivity through economies of scale which leads to lower costs for consumers (i.e., prices go down). It also allows individuals to focus their time on what they do best which increases quality of life because people will have more time doing things they enjoy instead of having to spend all their time trying to produce everything themselves (i.e., higher wages). Specialization also allows for greater variety which makes it easier for consumers since they don't have to worry about finding someone who sells exactly what they want; if someone doesn't sell exactly what you want then you can just buy from someone else who does sell it even if it's slightly more expensive than the other option because your overall cost will still be less than if you had tried making it yourself plus whatever extra money you spent was worth the convenience since now you don't have to spend all your free time searching around looking for something specific

Goods and services.

Yes, there are different types.