A market is simply a combination of buyers and sellers. These two groups can meet in a physical place (a shop, for example) or can meet across miles, aided by telecommunications (increasingly, the internet). They meet to buy and sell goods or services. The term “Market” is simply a short hand for “any place or situation where , two or more people meet to exchange goods or services”. A set up where two or more parties engage in exchange of goods, services and information is called a market. The two parties involved in a transaction are called seller and buyer. The seller sells goods and services to the buyer in…

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