Question

what is a market ? explain the main factors of market.

Answer 1

HERE'S YOUR ANSWER.....✌️✌️

Market is a place where buyers and sellers meet to effect purchases and sales.

the factors of market are :-
i) place factor
ii) area factor
iii) demand factor

Answer 2

A 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, and source of goods for sale (local produce or stock registration).
A factor market facilitates the purchase and sale of services offactors of production, which are inputs like labor, capital, land and raw materials that are used by a firm to make a finished product. A factor market is distinct from the goods and services market, which is the marketfor finished products or services