Markað

Markað is the Icelandic noun meaning market, referring to a place where goods and services are traded as well as to the broader concept of a market economy. It can denote a physical market such as a town square or a farmers’ market, and it is also used in abstract senses like “the market” in economic discussions. In contemporary Icelandic, markað appears in fixed compounds such as fjármálamarkaður (financial market) and vinnumarkaður (labour market).

Etymology: Markaður derives from Old Norse markaðr and is cognate with related forms in other Nordic languages, such as Danish marked and Swedish marknad, all connected with the idea of a trading place. The definite singular form is markaðurinn, and the accusative form is markað, reflecting its masculine gender and typical Icelandic declension.

Usage notes: For a physical market, one would usually use markaður or markaðurinn depending on definiteness, for example ég fer á markaðinn (I am going to the market). In economic contexts, markað is common in compounds, and phrases like markaðsverð (market price) or verð á markaði (price on the market) are standard. When referring to stock trading, Icelandic typically uses kauphöll (stock exchange) or fjármálamarkaður (financial market) rather than a plain markað, to cover stocks, bonds, and other instruments.

See also: Market (general concept), Economy, Financial market.