Respuesta :
A market is a place where buyers and sellers meet.
So under the capitalistic system, the buyers and sellers get together to carry out mutual objectives. The seller uses resources like raw materials, machinery, capital, etc. to produce the goods required by the buyer. The buyer utilizes the resources like money to buy the goods that are sold by the seller.
For the economy of the world to progress, there should be certain transactions that should be carried out very smoothly. The transactions of buying and selling the goods come under such transactions. Only when these transactions take place will there be circulation of money in the hands of people.
The market approach is a method through which the prices of the goods and services sold in the market are calculated by services analyzing similar goods and services. The market approach is very important as it is very necessary for the seller to know the prices of similar goods being sold.
If he charges a higher price no buyer will buy from him. If he charges a lower price he will be selling the goods at a loss. Even the buyers under the market approach are required to know the approximate price of the goods he wants to buy if not the sellers will exploit them.
Learn more about the market approach here:
https://brainly.com/question/28198773
#SPJ4
