This is a place where buyer and seller meet together to transact business. Has a place where there is transfer of ownership of goods and services.
Examples : Idumota market, Katangowa market etc
Market can also take place through communication between the seller and buyer without physical contact e.g. GSM, Internet, Jumia, OLX etc
Types of Market
- Commodity market
- Capital market
- Money market
- Commodity Market – open market, market stall, mobile shop etc
- Capital Market – institutes that trade in capital market are :
– Stock Exchange market
– Merchant banks
– Insurance companies
- Money Markets –
- Pension funds manager
- Commercial banks
- Brokerage firms
- Cooperative societies
Give ten examples of commodity market.
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