Question

Highlight the characteristics off sellers and buyers of a small shop and big malls *5 marks*
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Answer 1

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Answer 2

Answer:

SMALL SHOPS

⍟ Sellers :

⋆ Less profit

⋆ Less investment

⋆ Low price products sold

⋆ Cover limited people

⋆ Afford limited labor

⍟ Buyers :

⋆ Get limited facilities

⋆ Have to even bargain sometimes

⋆ Can afford only low priced products i.e. from small shops

BIG MALLS

⍟ Sellers :

⋆ High profit

⋆ High investment

⋆ Hight price products sold

⋆ Can afford large and branded labor

⋆ People come across the city

⍟ Buyers :

⋆ Get high quality products

⋆ Can afford expensive products

⋆ Only the rich can afford to buy

Additional info :

A market is a place in a society from where one can obtain all the basic and other products for daily requirement.

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