Shop at traditional markets

Hello Everyone

Have you ever shopped at a traditional market? Of course most of us often do it. because there are many things that we can find there. something that is not necessarily in a supermarket.

Definition of Traditional Markets

Traditional Market is a form of market in which activities or the process of transactions are still carried out traditionally, namely sellers and buyers meet to bargain the price of a good or service.

The Strengths of Traditional Markets

1. There is no economic gap between economic actors in the market.
2. There is no monopoly in the market.
3. Economic activity in markets is based on honesty.
4. Strong kinship in society.
5. The government cannot enter and interfere directly in the market.
6. New producers can enter the market easily.

Lack of Traditional Markets

1. Economic growth tends to be slow
2. Because innovation and promotion are not very influential, the quality of goods is difficult to improve and people's
   motivation to move forward is lacking.
3. The goods and services offered are limited they are very dependent on the results of natural resources.
4. There is no standard in measuring the value of an item.
5. Change is considered taboo because it is closely tied to culture.

Characteristics of Traditional Markets

1. Natural assets and physical labor are traded goods and services.

2. The government does not interfere directly in the market and is only tasked with maintaining public order.

3. Production is carried out by households and adjusted to their needs and abilities.

4. There is bargaining on the price of goods.

5. The sense of help and kinship is very visible and the life of the community.

6. Production techniques are learned from generation to generation.

7. Bound with culture and traditions in society.

8. There is no monopoly by one particular producer.

9. New producers can easily enter the market .

10. Service and price are the things that most influence sales, promotion and innovation is not very influential.

Conclusion

The traditional market is a market owned by the people that is able to prosper the people if it is well developed by the government.

That is a little explanation about Traditional Markets: Hopefully it is useful and can add insight and knowledge for those who read it. Thank you.