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What do you need to know about the market?
Read this essay to learn about the meaning of market! There are two aspects of every market: demand and supply. We have discussed both the concepts in the previous units. In this article, we will put the two components together to examine the behaviour of ‘Market’ as a whole.
How to write an essay on a market scene?
498 Words Short Essay on a market scene. A market place is a very busy place where people go to buy articles of their needs. It is a centre of attraction for both buyers and sellers. There is no other place in the area having so much brisk business as the market. I always find a big crowd there. There are several shops, all decorated beautifully.
What does the term market mean in economics?
Producers and consumers carry out their transactions of sale and purchase through the medium of market. In the layman’s language, market refers to a place where goods are purchased and sold. But, in economics, the term ‘market’ has a wider meaning.
Which is the only condition of a market?
The only condition is that they should be in contact with each other through any means of communication, like internet, telephones, letters, etc. Market refers to the whole region where buyers and sellers of a commodity are in contact with each other to effect purchase and sale of the commodity.
Last Update: Oct 2021
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