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The terms "Markets" and "Business relationships" are interrelated in both academic literature and when regarding business practice. However, the precise nature of this interrelationship of terms became unclear when empirical evidence from a global seafood network was analysed revealing phenomena that may be termed "Business relationships" in contexts called "Markets", and features of "Markets" were detected in what commonly was regarded as "Business relationships". Based on four narrative excerpts from case studies on seafood supply networks, a view of markets as an economic environment and business relationships as the immediate context of transactions is proposed.
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