what is place concept of market:
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1. Place concept: Under this concept, a market is a convenient meeting place for buyers and sellers to gather together in order to conduct buying and selling activities. It is very common and narrow concept. A place concept of market where buyers and sellers meet together to perform the exchange function.
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In simple words "A market can be defined as a place where buyers and sellers meet and function goods and services are offered for sale and transfer of ownership of title occur".
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