Question

A study on market and its types prevailing in the society​

Answer 1

Answer:

A market is a place where parties can gather to facilitate the exchange of goods and services. The parties involved are usually buyers and sellers. The market may be physical like a retail outlet, where people meet face-to-face, or virtual like an online market, where there is no direct physical contact between buyers and sellers.

There are four basic types of market structures.

1)Pure Competition.

2)Monopolistic Competition.

3)Oligopoly.

4)Pure Monopoly.