Explain concept of market & type of market on basic of place
Answers
Answer:
A market is a place where buyers and sellers can meet to facilitate the exchange for transition of goods and services.
Types of market on basis of place are
Local market : In such a market the buyers and sellers are limited to the local reason or area. They usually sell perishable goods of daily use since the transport of such goods can be expensive.
Regional market : This markets cover a wider and then local markets like a district or a cluster of few smaller States.
National market : This is when the demand for the goods is limited to one specific country or the government may not allow the trade of such good outside the National boundaries.
International market : When the demand for the product is international and the goods are traded internationally in bulk quantities we call it international market.
Answer:
this is the correct answer