The term "local market" refers to a geographically defined area where goods and services are exchanged between buyers and sellers. It typically includes businesses that cater to the needs of people living in the immediate vicinity, such as grocery stores, restaurants, bars, salons, and other small retail shops. The local market is often characterized by a strong sense of community and face-to-face interactions between customers and merchants. It can also include farmers markets or craft fairs where producers sell their goods directly to consumers. In summary, the "local market" refers to the economic activity that takes place within a specific region or neighborhood.