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Managerial Economics - Market Structure

Introduction of Market Structure

   Posted On :  29.05.2018 01:42 am

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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