What concept refers to the degree of interdependence among different market participants?

The concept that best refers to the degree of interdependence among different market participants is market integration. Market integration describes how different markets or economies become interconnected and interdependent, often as a result of trade, investment, and the flow of goods and services across borders. This integration leads to a situation where the economic actions of one market participant can significantly influence others, fostering a network of relationships and interactions that define global economic dynamics.

Global trade and globalization are related concepts but focus more broadly on the overall exchange of goods, services, and cultural elements across international boundaries. While they imply some degree of interdependence, they do not specifically define the intricacies of how different market players rely on one another.

International cooperation emphasizes collaboration among countries or organizations, often to achieve political or social goals rather than specifically highlighting market interdependence. It focuses more on collective action and agreements rather than the economic ties and market dynamics that characterize market integration.

Thus, the concept most directly tied to the interdependence of market participants is market integration, which illustrates how the actions in one market can directly affect others due to their interconnectedness.