Commercial Applications
State and explain any two types of markets on the basis of Nature of Transactions.
Markets & Marketing
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Answer
On the basis of nature of transactions, markets are classified into two types:
Spot Market: This is a market where goods are physically transferred from sellers to buyers. The transaction is settled on the spot — payment is made and goods are delivered immediately.
Future Market: This is a market where buyers and sellers enter into future contracts without the intention of actual delivery of goods. Their purpose is to make profit out of fluctuations in prices.
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