Write the features of Market. (any 3)
Answers
Answer:
here are some features
Explanation:
One commodity: ADVERTISEMENTS: ...
Area: In economics, market does not refer only to a fixed location. ...
Buyers and Sellers: ...
Perfect Competition: ...
Business relationship between Buyers and Sellers: ...
Perfect Knowledge of the Market: ...
One Price: ...
Sound Monetary System:
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Answer:
Meaning of Market:
In common parlance, by market is meant a place where commodities are bought and sold at retail or wholesale prices.
Thus, a market place is thought to be a place consisting of a number of big and small shops, stalls and even hawkers selling various types of goods.
Explanation:
Essential characteristics of a market are as follows:
One commodity: ADVERTISEMENTS: ...
Area: In economics, market does not refer only to a fixed location. ...
Buyers and Sellers: ...
Perfect Competition: ...
Business relationship between Buyers and Sellers: ...
Perfect Knowledge of the Market: ...
One Price: ...
Sound Monetary System: