How Is Cost Fixed In Short Period And Long Period And How Is The Price Fixed In Both The Periods?
Kinds Of Market, Its Features And Their Price Determination?
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The costs become fixed when they no more matter in the production decision and has to be incurred no matter what like rents, bills etc.
The major kinds of markets are Industrial, consumer, commodity and financial markets. The industrial one usually aim at the businesses. Consumer markets sells products of use to the common people in their daily lives. Commodity markets sell raw materials and financial markets deal with money. Each product in every kind of market has different pricing strategies but all of them are effected by the local economy, duty and taxes etc.
The major kinds of markets are Industrial, consumer, commodity and financial markets. The industrial one usually aim at the businesses. Consumer markets sells products of use to the common people in their daily lives. Commodity markets sell raw materials and financial markets deal with money. Each product in every kind of market has different pricing strategies but all of them are effected by the local economy, duty and taxes etc.
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