VI. On the Basis of Time

VI. On the Basis of Time i. Very Short Period Market: Markets which deal in perishable goods like, fruits, milk, vegetables etc., are called as very short period market. There is no change in the supply of goods. Price is determined on the basis of demand. ii. Short Period Market: i. In certain goods, supply is adjusted to meet the demand. The demand is greater than supply. Such markets are known as Short Period Market. iii. Long Period Market: This type of market deals in durable goods, where the goods and services are dealt for longer period usages.