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Market Size
The geographical extent of the market for any commodity can be limited boundaries of one locality or one city or the extent can be worldwide. In this context it is important to discuss the various factors which determine the size of the market. These factors can be broadly divided into three parts:
(a) nature of the commodity
(b) Conditions prevailing within the country.
Let us discuss each of these conditions in detail.
(a) nature of commodity
(1) Nature of demand- the size of the market for any product will depend upon the nature of demand for that product. Those goods which are demanded thought the country and also in different countries will have international market. Cotton, wheat, coal and iron are demanded throughout the world and, therefore, have wide markets.
(2) Durability- a commodity tends to have wide market when it is durable. The commodity must be such as being preservative for a long time and can be transported having got a world wide market. For example commodities like fish, meat, and vegetables etc. although universally demanded still have limited local market.
(3) Portability- a commodity which has got great value in small bulk has a very wide market. Even a small quantity of gold and silver has got a great value. Such commodities can bear the cost of long transport. They have got therefore a wide market.
(4) Sufficient supply- a commodity can have a market only when there is a sufficient supply of it. With any increase in demand for it the supply must rise simultaneously.
(5) Possibility of grading and sampling- a commodity which can be accurately described by a certain grade or of which a sample can be sent abroad will have generally a wide market. Grading and sampling market make it easy for the people to buy and sell from long distances. Hence, their market is wider. For example such goods that have ISO-9000 standard makings have world-wide market.
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(a) nature of the commodity
(b) Conditions prevailing within the country.
Let us discuss each of these conditions in detail.
(a) nature of commodity
(1) Nature of demand- the size of the market for any product will depend upon the nature of demand for that product. Those goods which are demanded thought the country and also in different countries will have international market. Cotton, wheat, coal and iron are demanded throughout the world and, therefore, have wide markets.
(2) Durability- a commodity tends to have wide market when it is durable. The commodity must be such as being preservative for a long time and can be transported having got a world wide market. For example commodities like fish, meat, and vegetables etc. although universally demanded still have limited local market.
(3) Portability- a commodity which has got great value in small bulk has a very wide market. Even a small quantity of gold and silver has got a great value. Such commodities can bear the cost of long transport. They have got therefore a wide market.
(4) Sufficient supply- a commodity can have a market only when there is a sufficient supply of it. With any increase in demand for it the supply must rise simultaneously.
(5) Possibility of grading and sampling- a commodity which can be accurately described by a certain grade or of which a sample can be sent abroad will have generally a wide market. Grading and sampling market make it easy for the people to buy and sell from long distances. Hence, their market is wider. For example such goods that have ISO-9000 standard makings have world-wide market.
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Demand Capital Characteristics
Cross Demand
Price Elasticity Factors
Income Demand
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Demand
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Total Outlay Method
Inductive Deductive Method
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Firm Equilibrium
Increasing Utility Methods
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Demand For Capital
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