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Market — Economics STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsMarket2 Marks
Question
What are the main components of a market ?
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Answer

  • For a market :
  • There should be buyers and sellers.
  • A commodity or service must De available.
  • The place is not necessary for a market, but it is necessary for the buyers aria sellers to be in touch with each other directly or indirectly.
  • There should he interaction of exchange between them.
  • Both the parties should agree to a price.
  • It is necessary to have a perfect information of the market.

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