MARKETS AROUND US (UNIT-7)

 *What is market ?

Markets are places where people buy goods and services.

*Markets are of different types:

a,Neighbourhood shops

b,Weekly Markets

c,Malls etc

*Weekly Market

=Weekly Markets are those markets which are held on a particular day of the week at a particular place selling almost everything  that a household needs,ranging from vegetables to clothes and to utensils.

*Mall

=Mall is an enclosed shopping space in a large building with many floors that has shops,restaurants and at times even a cinema theatre,most often selling branded products.

*Wholesale

=Wholesale refers to buying and selling of goods in large quantities,such as vegetables,fruits,flowers etc.

*Chain of Markets

=A series of markets that are connected like links in a chain because products pass from one market to another,is termed as chain of markets.

*Hawkers

=Traders who sell their goods by loudly telling about their goods on carts or on their head or selling on roadsides are called hawkers.

*Why do we go to markets?

=We go to market to buy many things

=They are vegetables,soap,toothpaste,rice,notebooks etc

=The list of our purchases is really long

*Why do people not bargain in shops located in malls whereas they bargain in weekly markets?

=People do not bargain in shops located in malls because goods there are fixed priced,packaged and branded.

=In weekly markets,prices of goods are not fixed,neither they are packaged nor branded.

*How are shops in our neighbourhood useful for us?

=They are near our home

=We can go there on any day of the week and at any time

=we can go there on any day of the week and at any time

=Usually  the buyer and seller know each other

=These shops also provide goods on credit.

*How does chain markets works?

=Goods go through a chain of markets before reaching the consumer.Goods produced at one place reaches different areas through chain of markets.Selling of new products encourages productions and new earning opportunities.