An "Open Market" refers to a type of economic system where prices for goods and services are determined by unrestricted competition between privately owned businesses. In this environment, buyers and sellers can freely engage in transactions without significant government intervention. This allows for a diverse range of products and services, fostering innovation and efficiency. In an open market, consumers have the freedom to choose from various options, which can lead to better quality and lower prices. Examples of open markets include local farmers' markets and online platforms like eBay or Amazon, where individuals and businesses can buy and sell goods directly.