In what ways is a hawker different from a shop owner?
Answer: Hawkers do not have permanent shops whereas shop owners have permanent shops. They generally sell items like vegetables and fruits. Their income levels are less than that of shop owners. Even the expenses (like rent electricity, wages to workers, etc.) that they have to bear are much less than that of shop owners.
Compare and contrast a weekly market and a shopping complex on the following:
|Market||Kinds of goods sold||Price of goods||Sellers||Buyers|
|Weekly markets||Unbranded||Very reasonable||Earn less||Cannot afford even the cheapest of goods|
|Shopping complex||Both branded and unbranded but mainly branded||Expensive||Very rich and earn well||Very rich and elite|
Explain how a chain of markets is formed? What purpose does it serve?
Answer: A chain of markets is formed by the series of exchange of goods from the producer to different traders till they reach the final consumers. The links of traders helps in taking the goods to faraway places so that people even in remote locations can have access to all goods.
“All persons have equal rights to visit any shop in a marketplace.” Do you think this is true of shops with expensive products? Explain with examples.
Answer: Nobody can stop anyone from entering any shop provided he/she otherwise conforms to the general norms of safety. The safety norms are followed by scanning/checking the bags and personal belongings of the visitors and also checking the visitors using metal detectors. Everybody has a right to visit any marketplace. The ability to buy depends on the income levels of the buyers but nobody can stop the people who are not rich from entering their shop. For example, in the shopping malls we can find people from all income levels, without any discrimination.
“Buying and selling can take place without going to a marketplace”. Explain this with the help of examples.
Answer: These days the concept of ‘virtual market’ is very popular. People need not visit shops for purchasing products. They can order over phone or buy online using the internet. People use credit cards for making purchases online. The online ‘marketplaces’; like Flipkart, Amazon, etc. offer a range of products. Buying groceries and other essentials has also become very convenient with online shopping through Big Basket, Local Banya, Grofers, etc.
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