Introduction to Markets

HideShow resource information
  • Created by: Lima
  • Created on: 18-09-13 12:33
what is a market?
any place or process that brings together buyers and sellers to agree a price to exchange goods or services.
1 of 6
types of markets
street markets, shopping centres, high street, supermarkets, stock exchange, E-commerce
2 of 6
what is bought and sold in markets?
goods, services, commodities
3 of 6
what is a good?
things you buy which are natural or manufactured products
4 of 6
what is a service?
involves buying the skills of another person e.g bus
5 of 6
what are commodities?
raw materials
6 of 6

Other cards in this set

Card 2

Front

types of markets

Back

street markets, shopping centres, high street, supermarkets, stock exchange, E-commerce

Card 3

Front

what is bought and sold in markets?

Back

Preview of the front of card 3

Card 4

Front

what is a good?

Back

Preview of the front of card 4

Card 5

Front

what is a service?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Market Failure resources »