Advertisements
Advertisements
Question
How can we define the term 'market' in economics?
Advertisements
Solution
A market is defined in economics as a whole area where buyers and sellers of a commodity interact with one another to effect purchase and sale of the product.
RELATED QUESTIONS
The firm under perfect competition is a ______.
The products which are identical in design, shape quality, size, colour, packing, etc. are ______.
Mention any three features of an oligopoly market.
What are inferior goods?
Which market provides long-term finance to business enterprises?
A market is a mechanism through which ______ are exchanged.
______ is not a concept of market.
Define the term market.
Discuss the characteristics of a market.
In which type of definition of 'market' is the main focus on the place or area where buying and selling occur?
