CLASSIFICATION OF ECONOMIC MARKET

CLASSIFICATION OF ECONOMIC MARKET

Q Explain briefly the different Economic Markets for which reports are prepared.
ANSWER:
Market in general usage is a place where things are bought and sold. In economics, market is not
necessarily the name of a place or building built of bricks and motors. Market is a situation in which
buyers and sellers of a commodity meet at a particular point of time and the price is fixed by the interaction
of the forces of demand and supply.
Economic Market can be classified on the basis of time, on the basis of area covered, on the basis of
commodity or merchandise, etc. Generally, we can classify on economic market as follows:
The markets for which reports are prepared are not too many. In our context, Stock Exchange and
Produce Exchange are common forms of market for which reports are prepared. Bullion Market is
unevenly reported. It is located in Karachi, Hyderabad, Lahore and Peshawar.
Stock Exchange is and organized market for long-term investments. It facilitates free movement of
stocks and shares, e.g., Karachi Stock Exchange and Lahore Stock Exchange.
Produce Exchange is an organized market dealing in raw produce such as wheat, cotton, rice, pulse,
oil-seeds, etc. located in Karachi, Lahore, Faisalabad, etc in Pakistan.