Macroeconomics Market - Definition, Types and Example

[ Keyword: Types of market. Physical Consumer, Business Market. Non-Physical Market. Financial Market. Definition of all types of market ]
Macroeconomics define market differently from market. According to marketing market is the present buyer and potential buyers. Macro-economics says market is the place where two parties exchange goods and services for assets such as cash, land, inventories etc.

Types of market: ( Definitions are at the bottom of this article )

• Physical Consumer Market: 

1. Food Retail 

2. Retail Marketplace

3. Big-Box Store
4. Ad hoc Auction market 

5. Flea Market: 

6. Temporary Market:

• Physical Business Market:

1. Wholesale Market: 

2. Market for intermediary goods:

3. Labour Market:

4. Ad hoc Market:

5. Trade Fairs:

• Non-Physical Market:

1. Media Market:

2. Internet Market:

• Financial Market:

1. Capital

2. Bond

3. Currency or Foreign Exchange 

4. Money

5. Future

6. Prediction

• Unauthorized and Illegal:

1. Grey Market:

2. Market for Illegal products:

Definition of the types of market:

1. Food Retail: A place where the seller sells only food items and only to the consumers. Food Fair will not be considered food retail. The shop must be to the same place in foreseeable future.   

2. Retail Marketplace: Super shops are the best example of retail market place. This is the place where all kinds of goods are presented to the consumers.

3. Big-Box Store: A physically large retail establishment. Synonyms: Supermarkets, hypermarkets and discount store.

4. Ad hoc Auction market: A place where buying and selling goods or services by offering them up for a bid, taking bid, and selling the item to the highest bidder.  

5. Flea Market: Street market for vendors who sells their goods.

6. Temporary Market: Where the tradesman sell their goods for only few days in a year. Such as Fair. 

7. Wholesale Market: Where products are sold to the business man on a large volume.

8. Market for intermediary goods: Place for intermediary goods, such as sugar. Sugar is used for producing other goods.

9. Labour Market/ Job market: Where the labours or workers or skilled person or any person sells their services to the employers for wages.  

10. Media Market: Media market is actually a region where the people can get access to various types of media.

11. Internet Market: A marketplace where trading is happening on online.
12. Prediction Market: The prediction market is a collection of people speculating on future possible events. It is also called information market.
13. Future Markets: A future market is a place where people can trade standardized future product.
14. Grey Market: Where people trade legal product illegally. For example: Oil is a legal product. But the smugglers traded it without any knowledge of the government. So it is a grey market.
15. Money Market: Money Market is comprised of Banks and Financial Institutions.

To sum up:
There are mainly 5 types of markets in macroeconomics. They are Physical, Non-Physical, Financial Markets etc.