Differentiate between local markets and shopping complexes and find out how goods
Answers
Answer:
Markets Around Us
Weekly Markets
Markets held on a weekly basis are known as weekly markets and they do not have permanent shops.
The products here are cheaper because the do not have to incur expenses like wages pf workers, electricity.These shop owners sell things they produce at home and are helped by their family members.
There are a number of shops selling the same products this means there is competition between shopkeepers which is profitable to the buyer who can buy products at a cheaper rate.
The major advantage of this market is that there is a huge variety of products and buyers do not have to go to different places or shops to buy different products.
Shopping Complexes and Malls
Markets in urban areas are mostly shopping complexes or malls. Malls are multi-storeyed air-conditioned buildings with shops at different levels.
Mostly products available in the malls are branded, of high quality and are promoted by advertisement. These markets appeal mostly to the rich people and they are the ones that these brands cater to.
Chain of Markets
We do not buy products directly from the producer or the manufacturer.
There are middle men who buy products from the producer and sell it to the buyer. These middle men are known as traders.
Answer:
Explanation:
LOCAL MARKETS-
Local markets include two types weekly markets and neighborhood markets
*Weekly markets:
Those that are set up and function on one day of the week (that is, on a weekly basis) are called weekly markets. The traders of various items come and set up temporary stalls at a place and sell their items. Mostly, the items are cheap, as the vendors do not have to pay rent or tax money.
A variety of items are found here, be it vegetables, utensils, or clothing items! The negative point is that the market is temporary and shops may not exist when you need it during emergencies!
*Neighborhood markets:
These are the shops or vendors present near our homes, on a nearly permanent basis. These include medicine shops or grocery shops near our homes, as well as a vegetable selling vendor who sells his produce every day of the week.
The prices of items here may be higher than those of weekly markets, as the cost of rent, electricity, and taxes may be added to their price.
However, a positive aspect of these markets is that one can rely on them and they will be delivered right to our doorstep!
SHOPPING COMPLEXES/ MALL -
These are found in urban cities. They are large buildings that are solely built to host shops that sell branded goods to customers. People visit malls to do shopping for clothes, shoes, electronics, furniture, jewelry, even groceries, etc.
Here, the prices are the highest since it has the best-branded items of superior quality. Some malls even have cinema theatres or other entertainment centres!
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