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.
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