Economic Institutions - market exchange.pptx

Grade 11 - ucsp

1. 1 Economic Institutions: Market Transactions

2. Understanding Market Transactions Over a long period, many societies have evolved and have adopted a capitalist economy where the market principle dominates. 2

3. 3 Understanding Market Transactions Market exchange - The price of the transactions of deliverables and services are supposedly governed by the rules of supply and demand.

4. 4 Understanding Market Transactions A market , in economic terms, refers to a bigger setting where buyers or sellers simultaneously trade or exchange goods or services.

5. 5 Understanding Market Transactions In a market exchange , at least two people should be involved: one who has a product and another who has the money.

6. 6 Elements of Market Transactions Money Prices Supply Demand

7. Elements of Market Transactions A free market is a phenomenon where no third-party institution controls the market or a single supplier that does the same.

8. Market Transactions and the Economy Market transactions facilitate the flow of the economy and help keep its balance .

9. Joining the Market 9 Let us create a business plan that shows your envisioned company’s objectives and the activities to attain them.

10. Activation 10 Joining the Market The Company Objectives Actions

11. What is a market exchange? What is the role of market transactions in the economy? What is the relation between the state and markets? Activation 11 Joining the Market