There are many kinds of markets in an urban areas. List out few of them.
Answers
market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and resource allocation in a society. Markets allow any trade-able item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, source of goods for sale (local produce or stock registration), and the threat of military or police force if these rules are broken
The different kinds of markets found in the urban areas are the retail markets, weekly markets, shopping malls and complexes, neighborhood shops and more.
Explanation:
- The urban areas are characterized by number of street markets which are dependent on the level of access and people in the surrounding areas. There are the weekly markets that operate on certain days of the week only. There are sellers who come from different places and sell all kinds of goods.
- There are the large shopping malls and complexes which have many shops for people to buy variety of branded goods. These are air-conditioned shopping areas located in building where the the shops are spread over number of floors. There are special showrooms which sell expensive branded products.
- There are neighborhood shops which are well stocked with items that people require on daily basis ranging from groceries, dairy products, stationery, vegetables, medicines and more. These shops are located in various localities and are an easy access for the people.
To know more about markets in urban areas
What is market?
What are the different kinds of market?
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