Summary on Types of Markets
The market encompasses various forms, both physical and digital, facilitating exchanges between buyers and sellers. Three primary types of markets are the goods and services market, the labour market, and the financial market. In the goods and services market, households buy consumables from businesses, utilizing physical stores and online platforms. The labour market involves the exchange of labor services from employees for employment opportunities provided by employers, spanning various levels of skill and sectors. The financial market, essential to capitalist societies, involves trading financial assets like securities, currencies, and bonds, supporting capital formation and liquidity for businesses, and operating through both physical venues and digital platforms such as stock markets and currency exchanges.