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Define Or Explain the Following Concept: Market - Economics

Short Note

Define or explain the following concept:

Market

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Solution

The market acts as a platform where buyers and sellers come into contact in order to exchange (buy and sell) goods and services. It refers to a situation where buyers and sellers meet. The market need not be a physical place. Nowadays, buyers and sellers meet over the internet and engage in trade.

Concept: Meaning and Features of Market
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 6 Forms of Market and Price Determination Under Perfect Competition
Exercise | Q 1.1 | Page 52
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