Market is defined as any means or medium through which buyers and sellers are brought into close contact with a view if buying and selling of goods and services.
TYPES OF MARKET
there are four types of market
1. COMMODITY MARKET – This is a geographical location where commodities such as foodstuffs, clothes, book etc. Are bought and sold
2. MONEY MARKET – This is the main market for short term loans and services
3. CAPITAL MARKET – This market deals with long – term loans, sales and purchase of shares, debentures and stock exchange Markets.
4. LABOUR MARKET – This is a market, where labour is bought and sold.
5. FACTOR MARKET – This is a market where all factors of production land, labour and capital are bought and sold.
6. STOCK EXCHANGE MARKET – This is a market in which the buying and selling of shares take place, participants in the market are BROKERS AND JOBBERS. The former is an agent while the later buy and sell shares for himself
• Helps government and firms to raise funds
• Markets for efficient utilization of capital
• Create market for securities