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JSS2: BUSINESS STUDIES – 1ST TERM
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Reception Office | Week 18 Topics|1 Quiz
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Office Correspondence | Week 25 Topics|1 Quiz
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Office Documents | Week 32 Topics|1 Quiz
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Trade | Week 42 Topics
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Aids to Trade | Week 52 Topics|1 Quiz
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Market | Week 64 Topics|1 Quiz
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Buying and Selling | Week 75 Topics|1 Quiz
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Distribution I | Week 83 Topics|1 Quiz
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Distribution II | Week 95 Topics|1 Quiz
Lesson 6,
Topic 1
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Market (Meaning, Features)
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Topic Content:
- Meaning of Market
- Features of Market
What is a Market?
A market is any place or situation where buyers and sellers come in contact, to sell goods and services to the people.
Features of Market:
1. Existence of a commodity which is bought and sold.
2. Existence of buyers and sellers.
3. Existence of a place where transactions are carried out.
4. There is a medium of contact between buyers and sellers, for the exchange of goods and services.
5. Existence of middlemen such as wholesalers and retailers.