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Market from the Economic Point of View
The essential idea of market in the strict economic sense is not any particular place of business where goods and services are exchanged.






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It refers to a commodity which is sold an purchased at competitive prices.  in other words, market means 'the demand for a commodity'. On the basis of competition, the markets are classified into perfect and imperfect markets.  Perfect market is in theory only and the one that really exists is an imperfect market.
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