What is the difference between a market and an industry? Please elaborate!
Market is a place where the buyers and sellers meet and carry out the economic transactions. in other words, market is established to facilitate the economic transaction or exchange of goods and services between the producer and buyer of the goods or services. it can be physical markets like we use to have since ancient times or it can be virtual i.e. online market like ebay.
Industry, on the other hand, is a manufacturing unit that produce a particular good for example, all the bag making firms together will form the bag industry. The bag industry will not include any other product like an ice cream or any other goods like a market. It will only be collection of all the bag producing firms in the market.
Market is inclusive of all the different goods and services, industry will have only on product which will be sold in the market.
What is the difference between a market and an industry? Please elaborate!
What is the difference between market equilibrium and market disequilibrium? Please include an example.
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How will carbon tax affect the Fishing industry in Canada. Please elaborate your answer. Please answer this in detail.
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What is the difference between industry before and after using the block chain?
What is the difference between an auction market and an open outcry market?
Discuss the three important steps in the market segmentation process. Please elaborate and use an example.
What impact does oil have on the FOREX Market, elaborate?