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What is market in business studies




Definition: A market is defined as the sum total of all the buyers and sellers in the area or region under consideration. The area may be the earth, or countries, regions, states, or cities. The value, cost and price of items traded are as per forces of supply and demand in a market.

What is the definition of a market?

market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions.

What are the 4 types of market in business studies?

The four popular types of market structures include perfect competition, oligopoly market, monopoly market, and monopolistic competition.

What is market in business studies for JSS 2?

A market is a place where buying and selling of goods and services are done by the buyers and sellers. A market can also be defined as an institutional arrangement whereby the buyers and sellers come in contact to exchange goods and services.

What is a market in answer?

Answer: A market is described as the total sum of all the purchasers and sellers in the area or region being considered. The area may be the earth, country, region, state, or city. The worth, expense and cost of traded items are according to the supply ɪmp; demand forces of a market.


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