Define market?And elaborate characteristics of market
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There are no completely "(2) free-enterprise " or market economies. The United States has more characteristicsof a market economy than a command economy, where a government controls the market. ... These decisions in a (3) free-marketeconomy are influenced by the pressures of competition, supply, and demand.
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Market is a place where buyers and sellers meet together for selling goods and services
Here is some characteristics of market
✴Perfect Knowledge of the Market:
Buyers and sellers must have perfect knowledge of the market regarding the demand of the customers, regarding their habits, tastes, fashions etc.
✴One Price:
One and only one price be in existence in the market which is possible only through perfect competition and not otherwise.
✴ Sound Monetary System:
Sound monetary system should be prevalent in the market, it means money exchange system, if possible, be prevalent in the market.
✴ Presence of Speculators:
Presence of seculars is essential just to supply business information’s and prices prevalent in the market.
Here is some characteristics of market
✴Perfect Knowledge of the Market:
Buyers and sellers must have perfect knowledge of the market regarding the demand of the customers, regarding their habits, tastes, fashions etc.
✴One Price:
One and only one price be in existence in the market which is possible only through perfect competition and not otherwise.
✴ Sound Monetary System:
Sound monetary system should be prevalent in the market, it means money exchange system, if possible, be prevalent in the market.
✴ Presence of Speculators:
Presence of seculars is essential just to supply business information’s and prices prevalent in the market.
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