Economics SSS 2 Second Term

WEEK 6                       

Market Structures I

Performance Objectives

Student should be able to:

1. Explain the concept of market and distinguish it from the market place.
2. Distinguish between perfect and imperfect market by being able to identify their features.

Content

Definition of market

A market may be defined as any arrangement by which persons and institutions are brought into contact to exchange goods and services.

Types of market

Market can be grouped based on the type of commodities purchased and sold or on the basis the channel of movement of finished products from the producers to consumers, or based on prices.

Types of market according to commodities sold in them.

1. Money market: Money market is the type.... View More