All persons have equal rights to visit any shop in a marketplace but this is however not true for shops with expensive products. For example:
(i) Big commercial shops don't allow the poor people to enter their shops sometimes. They consider them as inferiors and incapable of buying their products.
(ii) People from lower income group cannot afford to buy branded products and hesitate to enter big shops.
|
Hawker |
Shop Owner |
|
(i) Do not have permanent shops. |
(i) Have permanent shops. |
|
(ii) Generally sells non branded items such as fruits, vegetables, cutlery, etc. |
(ii) Sells branded as well as non branded items. |
|
(iii) Don't have expenses like electricity bills, rents, workers, etc. |
(iii) Have expenses like electricity bills, rents, workers, etc. |
|
(iv) Sells products at cheaper rate. |
(iv) Sells cheaper as well as costlier products. |
Buying and selling can take place without going to a marketplace as:
(i) There are many e-commerce companies providing home delivery for free.
(ii) People can order products from these companies and get it delivered to their home without visiting the market.
(iii) Some local shops also provide order on phone facility and people can order their goods just by a call.
(iv) Plastic money and internet banking has made it easier to provide alternate source of payment for buying from the virtual market.
Chain of markets is a series of markets that are connected like links in a chain because products pass from one market to another.
(i) Vegetables are produced in farms.
(ii) The vegetable wholesale trader buys goods in large quantities.
(iii) These will then be sold to other traders.
(iv) Retailers take these vegetables to the market where consumers buy these.
Purpose it serves:
(i) Consumers can easily buy goods of far off places in the local markets.
(ii) Factories and producers don’t need to find their consumer directly.
(iii) It encourages production and new opportunities are created for people to earn.
(iv) Provides employment to large number of people.
| Market | Kind of goods sold | Prices of goods | Sellers | Buyers |
| Weekly market | ||||
| Shopping complex |
|
Market |
Kind of goods sold |
Prices of goods |
Sellers |
Buyers |
|
Weekly market |
Non branded, Compromised quality |
Cheaper |
Small investors, Local |
Locals, Low income, Poor |
|
Shopping complex |
Branded, Good quality |
Costlier |
International companies, Big investors |
People from big cities, High income, Rich |
Take your CBSE board preparation to another level with AI based and rich media animation on Extramarks - The Learning App.
Features of Learning App
Already member? LogIn
Enter your GTS-XXXXXX below to start learning!
Extramarks enabled schools have access to loads of features!
If you are studying in an Extramarks enabled school.
If you want to be part of Extramarks.
