What is Market and what are its Features and Determinants

The term market has been taken from Latin Language VlarketJs which means an area where the two parties meets and exchange some values (Buying & Selling).

Market is a place where things are exchanged such as money or any commodity for the satisfaction of human wants and to take actions in order to provide the mechanism for Demand and Supply.

When the general public needs an invention for the fulfillment of their necessity “necessity is mother of invention” market is a place where such needs are fulfilled the products or commodities which are needed are supplied according to the different purchasing power capacity of the market consumers.

Innovations also takes place according to the cultural, fashion and sub cultural basis in an area specifically, the country which is rich in sense their living standard is high the innovations will take place with luxury goods, such as luxury air conditioned cars, houses, or anything.

For a market to become stable and profitable it is also necessary that the state’s political activities must not harm the market and its stakeholders there must be political stability, uncertain events can destroy the market and not let it to be on the peak.

For economic activities when the country has enough resources and or sufficient to utilize its resource to optimum use the living standard of the people will arise and ultimate the it will benefit both the government and market as well, market as the rise in purchasing power and government according to their tax charges.

Political Stability of any market is necessary, the policies of politicians must be fair enough to support market for its smooth run and gradual growth.

Market provides the connection or linkage between two parties Producer and Consumer, it also increases the nation’s income by producing local products and qualitative products and sell them to abroad and help government to less import more to export and earn remittances.

Market creates the employment opportunities by providing new jobs to the nearby residents, when a market is placed it is certain that human resource will be needed at the place either its is top level manger or may be the first line managers.

Market helps the government to maintain the economy of a country in the regulation of prices.

Market is place which help you to provide the goods and service at convenient place, door to door sale of products is a best example for that, online shopping using your debit card these help customer and facilitate them.

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