Market and its functions What is a Market? A market

Types of Market

1. What types of market do you know?

The five major market system types are Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Monopsony

2. Do the Markets vary widely for a number of reasons? Can you name the reasons?

Markets vary widely for a number of reasons, including the kinds of products sold, location, duration, size, and constituency of the customer base, size, legality, and many other factors.7

3. Where do the sellers meet to facilitate the exchange or transaction of goods and services?

A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services

4. What are the two most common markets? Can you Name them?

In a common market, countries also allow free trade and free movement of labor and ... The most famous example of a common market is the European Common ... If one of the conditions is not satisfied, the resulting market is not a common market. ... Therefore, a common market is often regarded as a “single market”

5. What kind of Market is called “A Black Market”?

Black markets, also called shadow markets, come about when people want to exchange goods or services that are prohibited by governments. Black markets skew economic data, as transactions are unrecorded.

6. Why don’t the government or other regulatory agencies influence to the black Market?

A black market is a transaction platform, whether physical or virtual, where goods or services are exchanged illegally. What makes the market "black" can either be the illegal nature of the goods and services themselves, the illegal nature of the transaction or both.

7. What kind of Market is called “Auction Market”?

An auction market is one where buyers and sellers enter competitive bids simultaneously. The price at which a stock trades represents the highest price that a buyer is willing to pay and the lowest price that a seller is willing to accept

8. What kind of Market is called “Financial Market”?

Financial markets refer broadly to any marketplace where the trading of securities occurs, including the stock market, bond market, forex market, and derivatives market, among others. Financial markets are vital to the smooth operation of capitalist economies