What do you mean by organized and unorganized market? It Produce Exchange an organized Market Explain.

A market is said to be a place to buy or sell goods and services. It may also mean an assembly of people, an area of operation, an organization, etc. An Economic Market is to exist whenever and whenever the buyers, and sellers of goods and services meet in each of opportunities for the adjustment of there mutual interest business in an atmosphere of free and open competition.
A Market by feature may be:
a) Organized and     b) Unorganized
An Organized Market is actually an Economic Market having the following essentials:
i) Group of buyers and sellers.
ii) Direct and effective competition and
iii) One price for one commodity.

In this sense, a Commodity Market and a Capital Market is organized market. To be specific produce, exchange, money market, and stock exchange are organized markets. They have set practice and rules to follow in the conduct of their day to day affairs.
A Produce Exchange is an Organized Market in the sense that there is a set group of buyers and sellers who area allowed to transact business. In an unorganized market any body can enter into business activities. In a Produce Exchange there is direct and effective competition and the transaction, ready or future, can take place accordingly. Such a market is very sensitive to change economic or political. Also, a Produce Exchange has only one price on a day. This is not necessary for an unorganized local or village market.