• It's like seeing more and more people in a concert every year! 🎤
• Technically, it's the increase in the number of folks buying a good or service over a period (usually a year).

• Think of it as the entire concert hall, filled with fans! 🎶
• It's the total sales by every business in a market.
• Fun Fact: You can measure market size by value (💲) or by how many products were sold (volume).

Imagine we've 3 rock bands in a concert (market):

• Firm A: Ticket sales were $20 million first year, and they became more popular with $22 million the next.
• Firm B: Rocked the stage with $28 million in ticket sales the first year, and $32 million the next!
• Firm C: Started with $14 million in sales, then upped their game to $16 million.

Combine all their sales! 🎟️

Year 1: $20M + $28M + $14M = $62 million Year 2: $22M + $32M + $16M = $70 million