Market and Types of Market

MARKET: – 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:        Ariaria 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

i. Commodity market

ii. Capital market

iii. Money market

1. Commodity Market – open market, market stall, mobile shop etc

2. Capital Market – institutes that trade in capital market are :

– Stock Exchange market

– Merchant banks

– Insurance companies

3. Money Markets –

i. Pension funds manager

ii. Commercial banks

iii. Brokerage firms

iv. Cooperative societies

EXERCISE

Give ten examples of commodity market.