Question
In: Operations Management
Give an example for each type of market.
Give an example for each type of market.
Solutions
Expert Solution
Types of Market and examples.
Physical Markets - The physical market is a set up where purchasers can physically meet the dealers and buy the ideal product from them in return of cash. Shopping centers, retail establishments, retail locations are instances of physical markets.
Non Physical Markets/Virtual markets - In such markets, purchasers buy products and enterprises through web. In such a market the purchasers and merchants don't meet or connect physically, rather the exchange is done through web. Models - Rediff shopping, eBay and so on.
Auction Market - In an auction market the merchant offers his merchandise to one who is the most elevated bidder. The most widely recognized auction markets include domesticated animals and homes, or sites like eBay where bidders may offer secretly to win auctions.
The market for Intermediate Goods - Such markets sell crude materials (merchandise) required for the last creation of different products.
Black Market – Sells drugs and weapons. Ticket selling is one. At the point when demand for show tickets is high, hawkers will step in and sell them at higher costs.
Financial Market - Market managing the trading of fluid resources (cash) is known as a financial market. The financial market incorporates the securities exchange or trades, for example, the New York Stock Exchange, Nasdaq, the LSE, and the TMX Group.
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