ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A market is a group of buyers and sellers of a particular good or service.

Detailed explanation-2: -A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services.

Detailed explanation-3: -What are Buyers or Sellers “On Balance?” Buyers or sellers “on balance” describes an order imbalance in a market at a specific point of time. The phrase also describes traders whose activity over a period of time trends predominately toward buying or selling, rather than a balance between the two.

Detailed explanation-4: -A monopsony is a market condition in which there is only one buyer, the monopsonist. Like a monopoly, a monopsony also has imperfect market conditions.

Detailed explanation-5: -Key Takeaways A market segment is a group of people who share one or more similar characteristics. Corporations and marketing teams use various criteria to develop target markets for their products and services.