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Market and Its Performance

In: Business and Management

Submitted By hellboy2020
Words 2010
Pages 9
2012 AUTUMN SEMESTER
ECONOMICS LECTURE REPORT

MARKET AND ITS PERFORMANCE : MAIN ELEMENTS AND FUNCTIONS

TEACHER: EDITOR:

Assoc Prof Yalcin BORLU
Rasa ZABARAUSKAITE

CONTENTS

1) What’s a Market? 3 2) Types Of Markets 4 1. Financial Markets 4 1. Stock Market 4 2. Bond Market 4 3. Foreign Exchange Market 4 4. Predictive Markets 4 2. Physical markets 4 3. Virtual Markets 5 4. Auction Market 5 5. Market for Intermediate Goods 5 6. Black Markets 5 7. Knowledge Market 5 3. Organization Of Markets 5 4. Mechanisms of Markets 6 5. Study of Markets 7 6. Size Parameters 8 Sources 8

1) What’s a Market? A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. For a market to be competitive, there must be more than a single buyer or seller. It has been suggested that two people may trade, but it takes at least three persons to have a market, so that there is competition on at least one of its two sides. However, competitive markets rely on much larger numbers of both buyers and sellers. A market with single seller and multiple buyers is a monopoly. A market with a single buyer and multiple sellers is a monopsony. These are the extremes of imperfect competition. Markets vary in form, scale (volume and geographic reach), location, and types of participants, as well as the types of goods and services traded. Examples include: * Physical retail markets, such as local farmers' markets (which are usually held in town squares or parking…...

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