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Question
A fisherman would daily sell fresh fishes in the nearby market in Varun's locality. Varun had to buy the fish by morning because, by afternoon, the fisherman would sell all the fishes, and head back home. The fisherman would then sell newly caught fishes the next day. What kind of market is the fisherman a part of?
A fisherman would daily sell fresh fishes in the nearby market in Varun's locality. Varun had to buy the fish by morning because, by afternoon, the fisherman would sell all the fishes, and head back home. The fisherman would then sell newly caught fishes the next day. What kind of market is the fisherman a part of?
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Solution
The correct option is D Very Short Period Market
Very Short Period Market, as the name suggests, the length of time allowed for this market is very short. The markets which are held only for a few hours are called very short period markets. For example, the market for milk, fresh vegetables, etc.
In a local market, the buyers and sellers are limited to the local region or area. Mostly these markets sell perishable goods of daily use. The products you find here are super fresh as they are grown and sold immediately. For example, fish, eggs, vegetables, fruits, milk, etc.
Very Short Period Market, as the name suggests, the length of time allowed for this market is very short. The markets which are held only for a few hours are called very short period markets. For example, the market for milk, fresh vegetables, etc.
In a local market, the buyers and sellers are limited to the local region or area. Mostly these markets sell perishable goods of daily use. The products you find here are super fresh as they are grown and sold immediately. For example, fish, eggs, vegetables, fruits, milk, etc.
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