Market | Characteristics | Example |
Resource | Factors of production (land, labour, capital & enterprise) are sold/exchanged. These resources are then sold to firms producing goods/services for consumers. | Mining company discovering iron ore |
Industrial | Goods/services that go into the production of other products. | Car company sourcing parts to complete vehicles |
Intermediate | Buy goods/services to resell/rent them to others eg wholesalers. | Car hire company |
Consumer | Market for goods at their final point of consumption | Department store |
Mass | Market for goods appealing to the majority of customers. | Milk, electricity, bread |
Niche | Smaller markets for more specialised goods/services, appealing to fewer people. | Vet |
