Which of these does not fall under the "marketplace" umbrella?

1. stock market

2. e-commerce

3. physical places of business

4. taxation

Stock market is the market where buyers and sellers come together to make deals with stocks of companies.

E-commerce is a market that is present in the cyberspace or in the internet

Physical place of business are businesses that have physical store fronts or offices such a supermarket.

The answer is

4. taxation