Mention three benefit of shopping in 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.
Explanation:
i hope it will help you
pls mark as Brainlist
Explanation:
INTRODUCTION TO MARKET - DEFINITION
A market is a regular gathering place for people, for the selling and buying provisions, livestock, and other commodities. Here goods are offered by the sellers in exchange for money from buyers. There are three types of market:
1. Weekly markets
2. Neighbourhood shops
3. Shopping complex and malls
WEEKLY MARKET - DEFINITION
A weekly market is held on a specific day of the week. Permanent shops are not there in weekly markets. Traders set up a shop for the day and in the evening they close it. They set up the shops in another location the next day. In India, there are thousands of such shops. These cater to the everyday requirements of the people.
SALIENT FEATURES OF WEEKLY MARKETS - DEFINITION
Following are the salient features of weekly markets:
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. Hence they do not employ outside people.
ADVANTAGES OF WEEKLY MARKET - DEFINITION
One stop shop: All the items are available at one place. Buyers do not have to go to different places for different goods. This saves their time and money.
More choice for buyers: Many sellers sell the same product. Thus buyer has more choice to buy things.
Convenience: Since variety of goods are available at one place, it is very convenient for the buyer.
SHOPS IN THE NEIGHBOURHOOD - DEFINITION
There are many shops that sell goods and services in our neighbourhoods. For example;
The dairy: selling milk and related products.
Departmental stores: selling groceries, stationery, eatables, etc.
Pharmacies; selling medicines.
Many of these are permanent shops, while others are roadside stalls. Roadside stalls are that of eateries, vegetable hawkers, mechanic, etc.
ADVANTAGES OF SHOPS IN NEIGHBOURHOOD - DEFINITION
Proximity: These shops are close to our houses.
Open all days: These shops operate on all days.
Flexibility: Since the buyer and seller know each other. These shops give goods on credit also. Hence payment can be made later also. In other words, there is flexibility regarding payment.
Personal touch: Since the buyer and seller know each other, the transaction has a personal touch to it. It is not a purely commercial transaction.
SHOPPING COMPLEXES AND MALLS - DEFINITION
Shopping complexes are the markets in the urban areas. They have many shops. Malls are large multi-storeyed air-conditioned buildings. There are many shops on different floors. Both branded and non-branded goods are available here.
CHAIN OF MARKET - DEFINITION
Chain of Market refers to the series of exchange of goods that takes place from the moment the goods are produced to the time they reach the end user. For example, the vegetable wholesale trader buys vegetables from farmers in large quantities. These will then be sold to other traders. The trader who finally sells this to the consumer is the retailer.
WHOLESALE MARKET - DEFINITION
Wholesale refers to buying and selling in large quantities. Every city has areas for wholesale markets. This is where goods first reach and are then supplied to other traders. A wholesale trader buys goods from the producer in large quantities. He then sells them to other small traders. These small traders sell different items to the final consumer
MARKETS EVERYWHERE - DEFINITION
A marketplace is where people buy and sell a variety of goods and services. All these markets are in a specific locality and working a particular manner and time. However, it is not always necessary that one has to go to the market to purchase goods. One can place orders for a variety of things through the phone and Internet, and the goods are delivered to your home.
INEQUALITY IN THE MARKET - DEFINITION
There is no equality in the market. Big and powerful business persons earn huge profits while small traders earn very less. For example, take the case of shop owners in weekly market and shopping mall. One is a small trader who has little money to run the shop.