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What does the term “marketplace” mean ? What do you think the benefits of a competitive...

What does the term “marketplace” mean ?

What do you think the benefits of a competitive marketplace are?

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Answer #1

Market place can be defined as a place where buyer and seller come together to meet each other's requirements.

Market Place is a place where buyer gets his required products and seller sells his products.

Benefits of a competitive market place are as follows:

1. Supplier tries to provide better quality product at competitive prices.

2. Consumer gets choice to choose among various products.

3. Consumer becomes the king of the market.

4. No forced pressure from market to buy from a particular supplier.

5. Negligible harassment for customers.

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