BUSY MARKET: An Analysis of Traditional and Modern Market Structures

This report provides an analysis of busy market dynamics, encompassing both traditional and modern market structures. It begins by defining a busy market and differentiating between traditional markets, characterized by the exchange of goods and services (including the barter system), and money markets, where transactions involve currency. The report traces the evolution of markets, highlighting the impact of industrialization and the rise of online marketplaces, which have facilitated increased trade and offered goods at competitive prices. References to relevant academic sources are provided, offering a comprehensive understanding of the subject and its implications for businesses and consumers. The report concludes with a summary of the key elements, from the historical context of barter systems to the current landscape of cashless transactions.

Running Head: BUSY MARKET 1
BUSY MARKET

BUSY MARKET
A market is a place where sellers sell their goods and services to the customers in
exchange of money; it can be also referred as a center of attraction between the consumers
and sellers of goods and services (Diez, et.al 2018). A busy market is a market where a large
market is where the seller presents their variety of goods and services with an aim to maintain
healthy competition, to the buyers of the goods and services and the seller with perfect price
of the products and services will achieve goodwill and a greater market share. However, a
BUSY market place has been explained in two parts namely, traditional markets and money
market. A traditional market is a market where the goods and services were provided to the
customers on the basis of exchange of other goods, it is a traditional market which used to
accept the consideration in the form of wheat, rice and other grains. In other words it can also
be understood as a system where the exchange of goods and services were done without the
exchange of money. However, the barter system still prevails in the current era as various
countries in the world follow the due process of barter system. For example: the countries
like China and Iran are following the process of barter system where Iran sells it oil to China
with exchange of various Chinese goods and services (Saka, 2017). A Money market is a
market where the exchange of goods and services are being done with exchange of money.
Historically, money has been made of different kinds such as gold, silver, iron etc. The
definition of money in the modern world has been changed; people are now using paper and
paperless money for the exchange of goods and services.
Money has been divided into pounds, dollars, euro etc. Each type of money has
its own value based upon the demand of money in the global marketplace. The value of a
particular type of currency will be higher if the demand of that currency is higher (La Spada,
2018). After the period of post industrialization, the market place has become busy day by
day, as the process of industrialization includes the bulk production of goods and services at
the global level. The process of industrialization has opened up the doors for each customer
to purchase various goods and services from any buyer at any part of the world. Now a day
the market has also been diversified into online market as well as offline market where the
customers can order the products from any part of the country. The sudden increase in the
online market has resulted in an increase in trade between the countries; the online market
has been successful in providing its products and services to the customers at cheaper rates
(Martin, 2019). Hence, it can be easily understood that the market has been continuously
growing from the period of barter system to the period of cashless form of market which has
ultimately increased the scope of trade between the countries.

BUSY MARKET
References
Diez, M. F., Leigh, M. D., & Tambunlertchai, S. (2018). Global market power and its
macroeconomic implications. International Monetary Fund.
La Spada, G. (2018). Competition, reach for yield, and money market funds. Journal of
Financial Economics, 129(1), 87-110.
Martin, K. (2019). Trust and the online market maker: A Comment on Etzioni’s cyber
trust. Journal of Business Ethics, 156(1), 21-24.
Saka, N. (2017). Contracts Constituting Barter System. Journal of International Trade,
Logistics and Law, 3(1), 51-61.