Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsMarket2 Marks
Question
'A market means a process of exchange.' - Explain.
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Answer
It is not necessary to have a definite place for a market. A market is a process of exchange in which, there are two parties buyers and sellers. They comes in contact with each other directly or indirectly and exchange goods or services. Because of this process of exchange. there is tendency of equal price for homogeneous commodities in different parts of a market.
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