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Characteristics Of Traditional Market

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Definition of market market is the area where the sale and purchase of goods with the number of sellers more than one like shopping center, traditional market, store, mall, plaza, center of commerce, designations and etc.
Market according to the study of economics is a place or a process of interaction between the demand ( buyers ) and supply ( seller ) of a product / service specific, so it can finally establish equilibrium price ( market price ) and the quantities traded.
So based on the above statement is an area where the market buying and selling goods / services with the seller more than one person in it happened, the interaction between demand ( buyers ) and supply ( sellers ) to set the price and the amount agreed upon by the seller …show more content…

The characteristics of the traditional market is as follows:
1. The traditional markets are owned, built and managed by the government or local.
2. A system of bargaining between the seller and the buyer. Bargaining is one of the cultural forms in the market. It is to establish social relationships between sellers and buyers closer.
3. The place of business is diverse and united in the same location. Though all are in the same location, merchandise every seller sell different items. There is also a grouping of merchandise according to the type of merchandise such as merchant groups of fish, vegetables, fruits, herbs, and meat.
4. Most of the goods and services offered locally made. Merchandise sold in traditional markets is the result of the earth generated by the area. Although there are some merchandise taken from crops from other areas which are not far from the area but not to import up out of the island or country.

The kind of traditional …show more content…

By location and service capabilities, the market is classified into five types:
1. Market Namely regional markets located in a strategic location and comprehensive, permanent building, and has the ability to service covers the whole of the city and even to get out of town, as well as goods that are traded complete and can meet the needs of society.
2. Market That city market located in a strategic location and comprehensive, permanent building, and has the ability to service covering all areas of the city, as well as goods that are traded complete. 200000-220000 serve the population. Which includes this market is the wholesale market and the wholesale market.
3. The market area (district) That market is located in a strategic location and comprehensive, permanent building, and has the ability to service covering all areas of the city, as well as goods that are traded fairly complete. Serving 10,000-15,000 inhabitants. Which includes this market is the retail market.
4. That market environment market situated in a strategic location, the building of permanent / semi-permanent, and have the waiter covers only settlements, as well as goods that are traded less complete. 10.00015.000 serve residents only. Which includes this market is the retail

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