1
Q
What is a market
A
A market exists in any situation where buyers and sellers come together to exchange goods and services.
2
Q
Where can a market exist
A
A market can exist in a physical location; it can be spread across a number of locations or can have no physical location at all.
3
Q
What are the 4 types of Markets
A
Retail, Labour, Financial, Stock
4
Q
Supply and demand for Retail
A
Supply: BUSINESSES
Demand: HOUSEHOLDS (consumers)
5
Q
supply and demand for Labour
A
Supply: HOUSEHOLDS (potential employees) – sell/supply skills & labour
Demand: BUSINESSES (employers) – buy/demand skills & l
6
Q
supply and demand for Financial
A
Supply: FINANCIAL INSTITUTIONS
Demand: HOUSEHOLDS, BUSINESSES
7
Q
supply and demand for
A
Supply: BUSINESSES
Demand: HOUSEHOLDS
Year 10 Commerce Term 1
flashcards
Decks in class (4)
# Cards
