MARKETS AROUND US

CLASS-VII                           SOCIAL AND POLITICAL LIFE-II

CHAPTER 8.       MARKETS AROUND US

Why we go to market

         To buy products

What are the kinds of markets

•        Shops

•        Hawker stalls

•        Weekly market

•        Large shopping malls

WEEKLY MARKET

•        No permanent shops

•        Held once in a week

•        Setup at different places in India

•        Many such markets exist.

•        Means for daily requirements

•        Available at cheaper rate

•        Sell product made at home – less costly

•        Permanent buildings have lot of expenditure as rent, electricity, fees to the govt. and wages to their workers

•        Good competition exists

•        Bargain and reduce price

•        Many things available at one place

•        Major advantage- from grocery to clothes to utensils

SHOPS IN NEIGHBORHOOD

•        SHOPS EXIST IN NEIGHBORHOOD

•        MILK

•        GROCERY

•        STATIONARY

•        EATABLES

•        SOME ARE PERMANENT SHOPS

•        OTHERS ARE ROADSIDE STALLS – VENDORS HAWKER

•        ARE NEAR TO HOME

•        CAN GO THERE ANY DAY

•        BUYER AND THERE ANY DAY

•        BUYER AND SELLER KNOW EACH OTHER

•        SHOPS DO PROVIDE GOODS ON CREDIT

SHOPPING COMPLEXES

•        Have many shops

•        Mall: large multi – storeyed air-conditioned buildings with shops on different floors

•        Both branded and non-branded goods

•        Branded goods are expensive, promoted by advertisements and quality

•        Special showrooms

•        Smaller number of people can buy branded products

CHAIN AND MARKETS

•        Series of market connected like as product pass from one market to another

•        Farmer- fertilizer- factory

•        Mechanic-repair-spair parts-factories

•        Goods produced in factories, farms or houses

•        Producers-traders-final consumers

•        Wholesalers-traders-retailors

MARKETS EVERYWHERE

•        Exist in specific locality

•        Now can place order by phone or internet

•        Home delivery options

•        Sales representative wait for doctors

•        Farmers purchase fertilizers to grow crops

•        Car factory purchases engines from factories

•        Market traders earn less profit than shopping complex traders

•        What is produced in one market reaches everywhere    ….the end….