Ojo Alaba international market Lagos Electronics section

Alaba international market is an

electronics The field of electronics is a branch of physics and electrical engineering that deals with the emission, behaviour and effects of electrons using electronic devices. Electronics uses active devices to control electron flow by amplification ...

market located in

Ojo Ojo may refer to: *Ōjō, a Japanese Buddhist term referring to rebirth in the Pure Land of Amitabha Buddha *Ojo, a curious red bear cub who has a wild imagination and is good friends with Treelo on ''Bear in the Big Blue House'' * ''Ojo'' (comi ...

Lagos State Lagos State ( yo, Ìpínlẹ̀ Èkó) is a States of Nigeria, state in South West (Nigeria), southwestern Nigeria. Of the 36 States of Nigeria, states, it is both the List of Nigerian states by population, most populous and List of Nigerian state ...

, Nigeria. It is the largest electronics market in

Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...

. Apart from the sales of electronic products, the market also deals in the repair of

home appliance A home appliance, also referred to as a domestic appliance, an electric appliance or a household appliance, is a machine which assists in household functions such as cooking, cleaning and food preservation. Appliances are divided into three ty ...

s. Alaba international market is an

market located in

, Nigeria. It is the largest electronics market in

. Apart from the sales of electronic products, the market also deals in the repair of

s. The market and its wide range of business activities gives opportunities to electronics and electrical engineers who specialized in the repair of faulty home appliances to transact businesses with dealers electronics. The market is opened on a daily basis except on Sundays and public holidays. This daily business transactions and popularity has attracted new investors and electronics dealers across Africa thereby expanding the market size and population with significant effects on the economy of Lagos State.

Basic structural characteristics

Alaba international market is a

Perfect market In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition. In theoretical models whe ...

in which no dealer influences the price of the electronic product it buys or sells within the market with no

Barriers to entry In theories of competition in economics, a barrier to entry, or an economic barrier to entry, is a fixed cost that must be incurred by a new entrant, regardless of production or sales activities, into a market that incumbents do not have or have ...

and

exit Exit(s) may refer to: Architecture and engineering * Door * Portal (architecture), an opening in the walls of a structure * Emergency exit * Overwing exit, a type of emergency exit on an airplane * Exit ramp, a feature of a road interchange A ...

. The market is characterized by huge numbers of sellers and buyers with willingness to buy the products at a certain price based on their need and income, enhancing long term adjustments to changing in the market conditions.

References

{{Reflist Retail markets in Lagos

Basic structural characteristics

See also

References