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Standard VII
Civics
Classification of Markets 1
What are the ...
Question
What are the classification of market based on geographical locations.
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Solution
Instructions: Mention local market, regional market, national and international market.
Solution: Classification onn the basis of geographical locations are:
Local market:
In this type of market the buyers and sellers are limited to sell their products in local regions or area.
They sell perishable and daily use goods as the transportation of such goods are expensive.
Regional Market:
These markets covers wider area than local markets like a district or cluster of smaller states.
National Market:
The demand of goods sold is limited to a specific country.
Government may not allow the trade of such goods outside the national borders.
International Market:
The demands for the product is international
Goods are traded internationally in bulk quantities.
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