Question

Classify markets on the basis of subjects of exchange.

Answer 1

Broadly, a market is classified into product market where goods are transacted, and a factor market where inputs are bought and sold. A goods market exists for both durable and nondurable and perishable goods. A. According to the extent of area covered, a market is classified into local, national, and international.

Answer 2

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1. Commodity Market:

This is an organised market where commodities are brought and sold example- cloth.

2.Capital Market:

It comprises of financial institutions, stocks exchanges, mutual funds and insurance company.

3. Money Market:

Money market provides short term finance to business enterprises.

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