Question

Explain the types of the market on the basis of time.

Answer 1

1. Very Short Period Market:
   Markets that deal in perishable goods like, fruits, milk, vegetables, etc. are called the very short period market. There is no change in the supply of goods.
2. Short Period Market:
   In certain goods, supply is adjusted to meet the demand. The demand is greater than the supply. Such markets are known as Short Period Market.
3. Long Period Market:
   This type of market deals in durable goods, where the goods and services are dealt for longer period of usages