Explain the types of market on the basis of geographical area ?
Answers
Answer:
Global warming is the long-term heating of Earth's climate system observed since the pre-industrial period (between 1850 and 1900) due to human activities, primarily fossil fuel burning, which increases heat-trapping greenhouse gas levels in Earth's atmosphere.
Answer:
major types of market can be classified on the basis of the following features:
1. Geography Basis
a. Local Market
b. Regional Market
c. National Market
d. International Market
2. Volume Basis
a. Wholesale Market
b. Retail Market
3. Delivery Basis
a. Spot Market
b. Future Market
4. Control Basis
a. Regulated Market
b. Unregulated Market
5. Nature Basis
a. Commodity Market
b. Capital Market
c. Service Market
6. Function Basis
a. General Market
b. Specialized Market
7. Time Basis
a. Very short period Market
b. Short period Market
c. Long period Market
d. Very Long period Market
8. Competition Basis
a. Perfect competition Market
b. Imperfect Market
c. Monopoly Market
1. On the basis of Geographical area:
On the basis of geographical area, market can be divided into four types as local market, regional market, national market and international market. In local market, perishable goods like fruits, vegetables, fish, meat and milk are exchanged among the local people.
The market which occupies a large area is known as regional market. This market may cover several villages and towns or even districts. People from different places visit there to exchange the goods.
If the market of goods or services been expanded nation wide, it is known as national market. Products like clothes, tea, coffee, cigarettes, drinks, cement, electrical goods as T.V., computer, refrigerator, vacuum cleaner, heater, etc. are bought and sold nationwide. This market is wider than regional market.
International market is known as world market or import- export market. If goods and services are sold and bought all over the world, it is known as international market. Some international products such as Toyota, Phillips products, Gulf Oil, Sony, Aiwa etc. are exchanged worldwide.
2. On the basis of the volume, market can be divided into two different types as wholesale market and retail market. The market, which deals a large amount of goods is known as wholesale market. This market purchases the goods from producers and sells to the retailers in wholesale amount. Generally, they do not sell the goods to ultimate consumers. The market which deals with the small quantities of product is known as retail market. This market sells the goods to thd ultimate consumers in retail price. This market keeps direct relation to the consumers.
3. On the basis of Delivery:
On this basis market can be classified as spot market and future market. This market deals on the certain period of time and for the for the long period. In this spot market, the delivery of goods and payment take immediately after the agreement between buyers and sellers. In this type of market, selling, buying and paying take place at a time.
In the future market, arrangement or contract for buying and selling is made in present but goods or services are delivered in future. Payment and physical delivery take place in the future according to the agreement between buyers and sellers.
4. On the basis of Control:
The types of market which are diveded on the basis of control are reguulated market, unregulated market. The market which is controlled by rules and regulations of government and trade association is known as regulated market. The government regulated the production, quality, features, prices and distribution. This is one of the reasonable and fair market.
5. On the basis of nature of Product/Subject:
Commodity market, capital (financial) and service market come under the basis of nature of product of market. All kinds of products are bought and sold in the commodity market. Consumers' goods and industrial goods are available in this market.
The market where financial aspects are