Market

This 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 :   Idumota 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

1. Commodity market
2. Capital market
3. Money market
4. Commodity Market – open market, market stall, mobile shop etc
5. Capital Market – institutes that trade in capital market are :

Stock Exchange market

Merchant banks

Insurance companies

3. Money Markets –
4. Pension funds manager
5. Commercial banks
6. Brokerage firms
7. Cooperative societies

EXERCISE

Give ten examples of commodity market.

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