Markets are a vital part of the city. The marketplace in La Paz is an essential part of the culture, allowing people to trade and obtain many items for low costs. Formal markets have set sites of commerce and require a permit for the vending stalls. There is a permanent artisans' market, witches market (sells herbs and folk remedies to supplicate the spirits of the Aymara belief system), flower market, black market (sells bootlegged tapes, electronic goods, imitation designer clothing, etc.), and several extensive food markets. One can buy just about anything from the markets. There is also a market called the Fería, which is an established market that travels and spends one day each week in a different neighborhood. It offers fresh, cheap produce and products.

Informal markets consist of people selling produce and goods along the street. Almost every street in La Paz is lined with vendors. The main difference between the formal and informal markets is that street vendors are not requred to have any permits, whereas most formal market sellers must have them.

 The market women of La Paz conduct much of the country's retail trade through their strategic bargaining.

The markets also sell specific goods such as the spices and honey, shown in the following two pictures. This specialization allows people to make more money and serves to provide urban dwellers with virtually everything they desire.