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- A market is a place in which the buying and selling activities are done.
- The two parties involved in a transaction are called seller and buyer.
- In local market buyers and sellers from the same village or nearby villages.
- The village markets exist mostly for perishable commodities in small lots, e.g., local milk market or vegetable market.
- Markets are critical in price formation, liquidity transformation and allowing firms to service the needs of their clients.
- In local markets sellers sell their products in local regions or areas.
- Local markets support traditional, environmentally-friendly and landscape-friendly farming methods that conserve biodiversity.
- It helps in energy saving as unnecessary transport is limited.
- It also reduces pollution and harmful emissions.
- Local markets promote healthier eating.
