what is the significance pf a weekly market when we have so many shops around us?
Answers
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. 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.
Advantages of weekly markets
One stop shop: All the items are available under one roof. Buyers do not have to go to different places for different goods. This saves their time and money. Whether they want groceries, vegetables, clothes or footwear- all are available at one place.
More choice for buyers: Since there are many sellers selling the same product, the buyer has a choice regarding who to buy from.
Convenience: Since a high variety of goods is available, it is very convenient for the buyer.
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.