3 features of weekly market
Answers
Answer:
Cheaper Rates: Many items are available in the weekly markets at cheaper rates.
High Competition: There is high competition among shop owners.
Family run: The shop owners store the items they sell at home. They are helped by their family members.
Answer:
These have the following salient features:
Cheaper Rates: Many items are available in the weekly markets at cheaper rates. This is because since these shops are not permanent, they save on expenses such as rent, electricity and fees to the government.
Family run: The shop owners store the items they sell at home. Mostly, they are helped by the family members and do not employ outside people and hence also save the money spent on wages to workers.
High Competition: Since these markets have a large number of shops selling the same item, there is high competition among them. Hence if a seller charges a higher amount for an item, buyers will buy from another seller who either charges a lower rate or allows the buyer to bargain to some extent.
Explanation:
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