The shop or stalls in weekly market are known as _______
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Answer:
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.
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1. Introduction
What will I learn in this lesson?
2. Comics
A Modern Market
3. Key Concepts
Markets Around Us
4. Did you know
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Chapter 8 - Markets Around Us
Society & Politics - II
Markets Around Us
Introduction
A market is one of the busiest places in a society and is the place from where we get all are commodities and daily requirements.
There are various things that constitute a market like hawkers stalls, shopping complexes, shops, and malls.
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.
Neighbourhood Markets
Neighbourhood shops are convenient for the public as they are open daily and various products are available at different shops. Many shops are permanent and some are temporary like hawkers and vendors.
The major advantages of these markets are that they are in the vicinity of our homes, there is an understanding between the buyer and the seller and we can get products on credit.
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.
Markets Everywhere
Nowadays it is possible to buy products from the phone or the internet which is an example of a digital market.
Sometimes a market chain is not visible to the final buyers. For example the sale of a wheel, an engine, an axle, etc is not seen by the buyer but the final product which is the car is in the showroom ready for sale. There are many such invisible links in the market.
Markets and Equality
There is a vast difference between the shop keepers at the weekly markets and the malls. The former earns a very meagre amount as compared to the latter. This shows the inequality in the markets.
There is inequality in the buyers too. This proves that whether a seller or a buyer the status of the person depends on his financial strength