Final answer:
In all markets demand or buyers, supply or sellers, and prices of goods and services are key elements; however, face-to-face negotiation is not necessary in all markets.
Step-by-step explanation:
All markets involve certain fundamental elements such as demand or buyers, who represent the total amount of goods and services consumers are willing to buy at various prices, and supply or sellers, the total amount of goods and services offered for sale at various prices. Additionally, prices of goods and services play a critical role in markets serving as a social mechanism for collecting, combining, and transmitting information that is relevant to the market, especially the relationship between demand and supply. However, one aspect that is not a necessary component of all markets is Face-to-face negotiation.