Advertisements
Advertisements
Question
Explain types of the market on the basis of time.
Advertisements
Solution
Types of the market on the basis of time are as follows:
- Very Short Period Market: This type of market has a very short time existence viz., for a few hours or for a day at a particular time and place. In this type of market perishable goods such as vegetables, fruits, milk products, etc. are sold.
- Short Period Market: This type of market has existed for a short period viz. weekly markets, festival market, market during fairs, etc. Perishable or semi-durable goods are sold in this market.
- Long Period Market: This type of market has existed for long period. In this type of market durable commodities that are generally non-perishable in nature are sold.
APPEARS IN
RELATED QUESTIONS
Perishable goods such as vegetables, fruits, milk products, etc. are sold in Market ______.
Write a word/term/phrase for the following sentence.
Type of market where durable commodities that are generally non-perishable in nature are sold.
Write a word/term/phrase for the following sentence.
The market is where goods are sold to the ultimate consumers or the users of the product.
The market for the commodities which are produced in one country and sold in other countries is known as the national market.
In the wholesale market, sellers are known as retailers and buyers are known as wholesalers.
Regulated Market operates according to forces of demand and supply.
Find the odd one.
Answer in one sentence.
What do you mean by 'Regulated Market'?
Arrange in proper order:
Local market, International market, National market.
Explain types of the market on the basis of the area covered.
Give classification of the market in detail on the basis of ‘Volume of Transaction’.
Explain the following term/concept in detail.
Monopsony
Justify the following statement.
The market can be classified on the basis of volume.
Monopoly refers to a market situation when there is a single buyer of a commodity or service.
Unregulated market operates according to forces of demand and supply.
Market can be classified on the basis of importance and area covered.
Explain the following term/concept in detail:
Monopoly
