In such a condition, the seller has a monopoly with no competition from others and has complete control over the products and services. In a monopoly market, the seller decides the price of the product or service and can change it on his own. Monopsony - A market form where there are many sellers but a single buyer is called monopsony. In such a set up, since there is a single buyer against many sellers; the buyer can exert his control on the sellers.
The buyer in such a form has an upper edge over the sellers. The floating market is a typical instance: it is representative of the Mekong Delta 's unique geographical features which is a complicated system of rivers and canals.
A crowded scene of a floating market in Mekong Delta. The buying and selling activities here are as bustling as any other regular market. The rivers are vast, but they can be full of boats going in different directions, carrying fresh products.
Since it can be extremely crowded, the sellers usually tie their products on a bamboo tree and put it on the head of their boats so that customers can see what is being sold from a distance. Fruits, vegetables, and traditional Vietnamese food are what they offer the most. Among all types of markets in Vietnam, the day market is the typical one that you can see in every region of Vietnam. They open daily from very early in the morning till late in the afternoon, except for some special national holidays such as Vietnamese Tet.
Most of the markets get their products delivered from wholesale suppliers at around 4 AM or even earlier so as to welcome the guest at AM. Therefore, the freshness of everything you buy would depend on what time you arrive at the market, apart from dry products like rice or grains — the earlier, the fresher. Here you can find anything essential for your family meal such as fish, meat, vegetables, spices, and fruits. The price here can be lower compared to supermarkets or convenience stores, but you would need to know a little bit about how to bargain in Vietnam.
Day wet markets sell produce from local farmers. If you want to visit a day market, you might need a tour guide to show you around since it can be real chaos, or else you should choose to visit huge markets that might be more accessible for international visitors. Below are some popular markets where you can buy souvenirs at a reasonable price. Ben Thanh Market is popular among tourists who are looking for souvenirs and local dishes. As it is the icon of Ho Chi Minh City, it is worth adding this market to the must-go list of your trip.
Being one of the oldest markets of the city, Binh Tay Market is where you can buy good stuff as well as trying some delicious food. The sellers here can use many languages like English, Chinese, Japanese, Thai, Korean, not so fluently but enough for you to understand.
The variety of products and dishes of Tan Dinh Market is what makes many local people adore it. It is also located near lots of tourist attractions, so it is an excellent choice for your Day Adventure in Ho Chi Minh City. Check out our private motorbike tours with professional local guides for fun and insightful trips in Ho Chi Minh City! Just like day markets, night markets in Vietnam also open all year round. In some cities, they are the places for the local to buy affordable merchandise and hang out with their friends, while in other ones, tourists are their main visitors.
They usually sell clothes, souvenirs, and street food. Some popular night markets in Vietnam include:. Ben Thanh Market is beautiful and crowded from day till night.
The market opens almost all day, so feel free to take a look at it whenever you can. Vietnamese Pizza at Dalat night market. The night market is an appealing destination whenever you visit this city of love.
At night, they sell a lot of warm clothes and local specialties. Those are the markets that only one type of product. Each seller here can have different products, but they are all in the same category.
The flower market is a specialized market that can be found in many provinces of Vietnam. Thousands of bouquets are well-prepared and carefully shipped to many places around the region. It is also a tradition for Vietnamese people to decorate their house with colorful flowers in the Tet holiday, so around that time of the year, flower markets are always full of people.
Ho Thi Ky Flower Market. Besides flowers, the seafood market is also an attractive characteristic of Vietnam thanks to our long coastline. Binh Dien Wholesale Market is another big name as it gets every product delivered directly from fishing areas and contributes them to every corner of Ho Chi Minh City. The former focuses on selling all kinds of chemicals, the latter offers mechanical and electrical goods. Dan Sinh Market is also a heaven for those who are looking for war memorabilia as here they have boots, hats, clothes, utensils, and tools of soldiers during the war.
Dan Sinh Market. In Northwest Vietnam, the majority of the population is Vietnamese minorities. Their markets are quite different from the ones of Kinh people, the most crowded ethnicity in Vietnam. People usually use their home-grown products. They eat the vegetables they grow and the cattle, poultry they raise, wear the clothes they sew and use the tools they make. If there is anything they cannot fabricate themselves, they would exchange goods with their neighbors rather than selling them.
Therefore, there is no need to open markets every day. You can only find these markets once a week or once a month, usually on Sundays. Fresh vegetables, brocade clothes, and accessories are what you can expect here.
Buffalo, cow, horse, chicken, bird, and dog can also be found in some highlands markets. There are countless markets across the country and the number of types of markets in Vietnam is unknown. Therefore, wherever you go in Vietnam, definitely don't forget to visit the markets. Get the world-leading travel insurance for your adventures in Vietnam:.
About itourvn. This Vietnam travel information page is written by a team of professional tour guides in Vietnam. More about us or visit home page. All tours are private, customizable, and led by professional English-speaking guides. For more reference, read our customer reviews or see below for the tour package in Ho Chi Minh that works for you. Half-day City Tour. Night Tour. Food Tour. Saigon's Other Side. Shore Excursions. Vietnam Travel Information. Check out the necessary information for traveling to Vietnam.
Economy Economics. Table of Contents Expand. What Is a Market? Understanding Markets. Types of Markets. Regulating Markets. Markets FAQs. Key Takeaways A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer.
Other examples include the illegal markets, auction markets, and financial markets. Markets establish the prices of goods and services that are determined by supply and demand. How Do Markets Work? What Is a Black Market? How Are Markets Regulated? Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
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Related Terms Black Market A black market is an economic activity that takes place outside government-sanctioned channels. Stock Market Investopedia The stock market consists of exchanges or OTC markets in which shares and other financial securities of publicly held companies are issued and traded.
Price Controls Price controls are government-mandated minimum or maximum prices that can be charged for specified goods. Learn how price controls impact the economy. Clearing Clearing is when an organization acts as an intermediary to reconcile orders between transacting parties.
A clearing bank approves checks for payments. Bid Definition A bid is an offer made by an investor, trader, or dealer to buy a security that stipulates the price and the quantity the buyer is willing to purchase. What You Need to Know About Auctions An auction is a sales event where buyers place competitive bids on assets or services. Read the pros and cons of buying and selling through auctions. Partner Links. Related Articles. Investing Getting to Know the Stock Exchanges.
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