ENTREPRENEURSHIP

Detailed explanation-1: -Definition: A market is defined as the sum total of all the buyers and sellers in the area or region under consideration.

Detailed explanation-2: -The size of a market is determined by the number of buyers and sellers, as well as the amount of money that changes hands each year.

Detailed explanation-3: -Economic market structures can be grouped into four categories: perfect competition, monopolistic competition, oligopoly, and monopoly.

Detailed explanation-4: -What Is Market Sizing? The “market size” is made up of the total number of potential buyers of a product or service within a given market, and the total revenue that these sales may generate. It’s important to calculate and understand market size for several reasons.

Detailed explanation-5: -In marketing, the term market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product.