Kinds of markets and their classification.

According to the objects of market the following types are distinguished:

- commodity and service market. It includes consumer goods, foodstuffs, household and transport services, education and health care services;

- factors of production market:

a) labour market;

b) means of production market;

c) raw materials market.

- financial market which includes:

a) stock exchange;

b) currency market;

c) futures or spot market.

Classification of the markets.

1. On breadth of scope: the local, national and international markets.

2. On objects of sale and purchase: the markets of consumer goods and services, the markets of resources, the monetary market, a labour market, a securities market.

3. On branches of manufacture (the market of wheat, the market of cars, metals and so forth).

4. On presence of a competition: the competitive market and not competitive market.

In spacious respect the greatest market – the world market – is distinguished. It presupposes any goods exchanging processes between countries, concerning selling or buying goods and services independently from the agents of trade operations.

According to the objects, seller’s and buyer’s markets are distinguished.

Competition: concept and types. Perfect competition.