What term refers to the market where everyday products like clothes and food are bought and sold?

The term that refers to the market where everyday products like clothes and food are bought and sold is "Goods Markets." This concept encompasses all transactions involving physical products that consumers purchase for personal use, which includes a wide range of items such as groceries, clothing, electronics, and household goods. Goods markets are vital for the economy, as they facilitate the exchange of consumer products between sellers and buyers.

Capital markets typically deal with long-term financial instruments and investments, while service markets focus on the exchange of intangible products like services rather than physical goods. Financial markets, on the other hand, involve the trading of financial instruments such as stocks, bonds, and derivatives. Thus, Goods Markets accurately captures the essence of a market centered around physical consumer products.