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    Market Around Us..

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    divyaksh maurya
    Markets come in many forms, from weekly markets that operate on specific days to permanent shops in neighborhoods. Weekly markets allow traders to avoid costs of permanent shops, passing savings to customers. Goods flow through a chain of markets, from producers to wholesalers to retailers and consumers. While markets connect buyers and sellers, opportunities are not always equal as small traders earn less than large shop owners.

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    Market Around Us..

    Uploaded by

    divyaksh maurya
    102 views10 pages
    Markets come in many forms, from weekly markets that operate on specific days to permanent shops in neighborhoods. Weekly markets allow traders to avoid costs of permanent shops, passing savings to customers. Goods flow through a chain of markets, from producers to wholesalers to retailers and consumers. While markets connect buyers and sellers, opportunities are not always equal as small traders earn less than large shop owners.

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    Market around us..

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    Markets come in many forms, from weekly markets that operate on specific days to permanent shops in neighborhoods. Weekly markets allow traders to avoid costs of permanent shops, passing savings to customers. Goods flow through a chain of markets, from producers to wholesalers to retailers and consumers. While markets connect buyers and sellers, opportunities are not always equal as small traders earn less than large shop owners.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    102 views10 pages

    Market Around Us..

    Uploaded by

    divyaksh maurya
    Markets come in many forms, from weekly markets that operate on specific days to permanent shops in neighborhoods. Weekly markets allow traders to avoid costs of permanent shops, passing savings to customers. Goods flow through a chain of markets, from producers to wholesalers to retailers and consumers. While markets connect buyers and sellers, opportunities are not always equal as small traders earn less than large shop owners.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    of 10

    “MARKET AROUND US”

    CHAPERT-7
    Introduction
    • We go to the market to buy many things – vegetables, soap, toothpaste, masala, bread,
    rice, dal, clothes, notebooks, biscuits, etc.
    • There are many kinds of markets that we may visit for our everyday needs:
    • shops, hawker’s stalls in our neighbourhood, a weekly market, a large shopping complex
    • In this chapter, we will try to understand
     How the goods that are sold there reach buyers?

     Who these buyers are?

     Who these sellers are?

     The sorts of problems they face.


    What is weekly market?
    • A weekly market is so called because it is held on a specific day of the week.
    • Weekly markets do not have permanent shops.
    • Traders set up shops for the day and then close them up in the evening.
    • There are thousands of such markets in India. People come here for their everyday
    requirements.
    • Many things in weekly markets are available at cheaper rates.
    • This is because when shops are in permanent buildings, they incur a lot of expenditure –
    they have to pay rent, electricity, fees to the government. They also have to pay wages
    to their workers.
    • In weekly markets, these shop owners store the things they sell at home.
    • Most of them are helped by their family members and do not need to hire workers.
    • Weekly markets also have a large number of shops selling the same goods which means
    there is competition among them.
    • If some trader were to charge a high price, people would move to another shop where
    the same thing may be available more cheaply or where the buyer can bargain and bring
    the price down.
    • One of the advantages of weekly markets is that most things you need are available at
    one place.
    • Whether you want vegetables, groceries or cloth items, utensils – all of them can be
    found here.
    • You do not have to go to different areas to buy different things
    Shops in the neighbourhood
    • There are many shops that sell goods and services in our
    neighbourhoods.
    • We may buy milk from the dairy, groceries from departmental
    stores, stationery, eatables or medicines from other shops.
    • Many of these are permanent shops, while others are roadside
    stalls such as that of the vegetable hawker, the fruit vendor, the
    mechanic etc.
    • Shops in the neighbourhood are useful in many ways.
    • They are near our home and we can go there on any day of the
    week.
    • Usually, the buyer and seller know each other
    • These shops also provide goods on credit.
    • This means that you can pay for the purchases later
    Shopping complexes and malls
    • There are other markets in the urban area that have many shops, popularly called
    shopping complexes.
    • These days, in many urban areas, you also have large multi-storeyed air-conditioned
    buildings with shops on different floors, known as malls.
    • In these urban markets, you get both branded and non-branded goods.
    Chain of markets
    • Goods are produced in factories, on farms and in homes.
    • However, we don’t buy directly from the factory or from the farm.
    • The wholesale trader first buys goods in large quantities.
    • For example, the vegetable wholesale trader will not buy a few kilos of vegetables, but
    will buy in large lots of 25 to 100 kilos.
    • These will then be sold to other traders. In these markets, buying and selling takes place
    between traders.
    • It is through these links of traders that goods reach faraway places.
    • The trader who finally sells this to the consumer, is the retailer.
    • This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a
    shopping complex
    Markets everywhere
    • So far we have seen different marketplaces where people buy and sell a variety of
    goods and services.
    • All these markets are in a specific locality and work in a particular manner and time.
    • It is not always necessary that one has to go to the market to purchase goods.
    • You can place orders for a variety of things through the phone and these days
    through the Internet, and the goods are delivered at your home.
    • Thus, buying and selling takes place in different ways, not necessarily through shops
    in the market.
    Markets and equality
    • They are very different people.
    • One is a small trader with little money to run the shop whereas the other is able to
    spend a lot of money to set up the shop.
    • They also earn unequal amounts.
    • The weekly market trader earns little compared to the profit of a regular shop owner in
    a shopping complex.
    • Similarly, buyers are differently placed.
    • There are many who are not able to afford the cheapest of goods while others are busy
    shopping in malls.
    • Through market chain that what is produced in one place reaches people everywhere.
    • When things are sold, it encourages production and new opportunities are created for
    people to earn. However, do they offer equal opportunities?
    Answer the following Questions:
    1. Describe different kinds of markets.
    2. Why is a weekly market called so? How do they work?
    3. Why are things cheaper in weekly markets?
    4. What are the advantages of weekly markets?
    5. How are shops in our neighbourhood useful for us?
    6. Describe shopping complexes and malls.
    7. Why are branded goods expensive?
    8. Explain the market chain.
    9. What purpose does the chain of market serve?
    10. How market and equality are related?

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