User:Un nouaje

Main Features Of a Market

1) Buyers and Sellers: Buyers and Sellers must come into contact with each other for a market to exist. It is only after the contact between the buyer and the seller, that a transaction takes place.

2) Area: You can easily find a market place nearer to a human settlement. But in today's world, the market is not limited to a particular place Today, in the age of Internet, we have a rapidly growing online market which is not limited to any geographical area. A buyer can place order to buy a good online. So modern market exists physically and virtually.

3) Commodity: The transaction between buyer and seller has to be over some good or service. So a Commodity becomes the integral part of a market.

4) Different forms of competition: Forms of market depends on the degree of competition among the sellers selling the goods, where the degree of competition itself is determined by the inter relationship of among the goods and services sold by different sellers as well on number of sellers present in the market.

5) Money Transaction: Money is the mediums of exchange in the modern day world. Consumers pay money to the seller to buy goods as services in the market. So market and money is inseparable.