Market is a place where people can buy and sell commodities. It may be vegetables market, fish market, financial markets or foreign exchange markets.
Introduction of Market Structure
Market is a place where people
can buy and sell commodities. It may be vegetables market, fish market,
financial markets or foreign exchange markets. In economic language market is a
study about the demand for and supply of a particular item and its consequent
fixing of prices, example bullion on market and foreign exchange market or a
commodity market like food grains market etc. Market is classified into various
types based on the characteristic features. They are classified on the basis
of:
Area: family market, local, regional,
national and international
Time: very short period, short period,
long period, very long period
Commodity:
produce exchange, bullion market, capital market,
stock market
Nature of Transaction: spot
market, forward market and futures market
Volume of business: whole
sale market, retail market
Importance: primary market, secondary market,
territory market
Regulation: regulated market, unregulated
market
Economics: Perfect market and imperfect
market
Market In
Economic Sense Implies:
1. Presence
of buyers and sellers of the commodity
2. Establishment
of contact between the buyer and seller
3. Similarity
of the product
4. Exchange
of commodity for a price
Tags : Managerial Economics - Market Structure
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