Question

What is the meaning of economics with example in marketing?

Answer 1

In order to understand the Meaning of Market the market function is an important issue to delve into. The market function is there so that the satisfaction of the buyers and sellers during a transaction can be ensured.. The market generally depends on the adjustments of the price so that it can inform the participants involved in a transaction. This is done so that both the buyer and the seller are well informed and can bargain the right price out and satisfy themselves somewhat. Another main function of the market is to keep the prices under check and control fluctuations in supply and demand to reach allocative efficiency.