Regulatory affairs and the modern market

[LolyMing]

A market ordinarily means a particular place of locality where goods are sold and purchased by sellers and buyers. But in economics the term market has a wider meaning and scope. The term ‘Market’ in today’s economics does not refer to a particular place where buyers and sellers assemble. The dealers may be living at distant places, in different regions, towers or even different nations, but they can do business with the help of means of communications such as telephones, telegraphs, letters etc subject to the rules and regulations laid down by the regulatory affairs experts.

Due to the different pattern of policies followed by the regulatory affairs experts in different countries, in reality the “same price” does not exist for same goods at a particular point of time. Keeping in view the real imperfect market conditions, the widely accepted definition of market as given by modern economists is that, it (market) implies the whole area over which buyers and sellers are in constant touch with each other, directly or through middlemen, so that the price of commodities in one part simultaneously influences the price in other parts as well.

Every market always does transactions in a particular commodity. Thus in a share market, the sellers and buyers deal with only one commodity i.e. shares and related products. There are speciality markets as well which deal with single commodities and are known under the name of the particular commodity like e.g. wheat market, cotton market, cloth market.

Regulatory affairs experts have laid down rules, to promote perfect competition amongst buyers and sellers so that a uniform price exists for the same thing at a particular time. The rules and regulations are intended to keep out imperfect competition and to ensure fair play in all market operations. Competition amongst buyers and sellers will ensure a fair price for a particular commodity.

 

[rsmonkey]

as interesting as that is and well done for triple posting.. anyhow as a consumer price can never be the same. First of all compared to say the USA, the import export costs, government tax... (and needless to say the list is bloody endless) thus items on an international level can never cost the same. However this is almost the same within the UK where larger chains such as Tesco's can afford to accept very little profits on items they sell because know they will sell a certain amount and make a certain amount of profit blah blah.. baisically Tesco's have a very good financial advisory & marketing team. Where as old bill who runs the cornershop can only buy a certain few and has to sell them on at a higher price to make a recognisable profit.

Im not sure what you are getting at whether is price equality on the consumer level or whether its at a buisness trade level whatever it is there can never be price equality & b/c we live in a democracy it means that Tesco's excel & Old Bill's shop goes under. Dont get me wrong I dont mind the Tesco's effect but I would also miss Old Bills shop the fact of the matter is... this is consumer/buisness evolution & yes evolution does exist

 

[MrsGorilla]

I was wondering why the title "Regulatory affairs and the modern market" warranted having a smiley face next to it.

 

[statsman]

You read it didn't you. Caught me too.

Actually, I think this was spam for a website. Bob (always on the job) Larson removed the link.