Markets and Shopping: An Overview
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Questions and Answers

It took almost 20 minutes to weigh and pack all the ______.

groceries

If some trader were to charge a high ______, people would move to another shop.

price

Sujata showed the woman her ______.

notebook

Sameer is a ______ of clothes.

<p>seller</p> Signup and view all the answers

The woman wrote down the amount of ______ in the notebook.

<p>3000</p> Signup and view all the answers

Sujata took the heavy ______ out of the shop.

<p>bags</p> Signup and view all the answers

One of the advantages of weekly markets is that most things you ______ are available at one place.

<p>need</p> Signup and view all the answers

He and other cloth sellers move in ______.

<p>groups</p> Signup and view all the answers

Sujata’s family will pay for the purchases in the first week of next ______.

<p>month</p> Signup and view all the answers

Many shops in the neighbourhood are ______ shops.

<p>permanent</p> Signup and view all the answers

His customers are from villages that are near the ______.

<p>marketplace</p> Signup and view all the answers

At festival times, such as during Deepavali or Pongal, he does ______ business.

<p>good</p> Signup and view all the answers

The buyer and seller usually know each other in ______ shops.

<p>neighbourhood</p> Signup and view all the answers

Sujata and Kavita were sent to buy groceries from their ______ shop.

<p>neighbourhood</p> Signup and view all the answers

Anzal Mall is a five-floor shopping ______.

<p>complex</p> Signup and view all the answers

On the top left shelf there were different brands of ______ cakes.

<p>detergent</p> Signup and view all the answers

Nor would the producers be interested in selling us small quantities such as ______.

<p>retail</p> Signup and view all the answers

The ______ trader buys goods in large quantities.

<p>wholesale</p> Signup and view all the answers

A ______ is a large quantity of goods purchased at one time.

<p>lot</p> Signup and view all the answers

The ______ is the trader who sells directly to the consumer.

<p>retailer</p> Signup and view all the answers

A ______ market is a place where goods are first sold in large quantities.

<p>wholesale</p> Signup and view all the answers

A roadside ______ may purchase goods from a wholesale trader.

<p>hawker</p> Signup and view all the answers

The city wholesale trader would have bought goods from a ______.

<p>factory</p> Signup and view all the answers

A chain of ______ is set up to distribute goods from producer to consumer.

<p>markets</p> Signup and view all the answers

Aftab, the ______, buys vegetables in bulk.

<p>wholesaler</p> Signup and view all the answers

A ______ uses fertilisers to grow crops.

<p>farmer</p> Signup and view all the answers

A car factory purchases ______, gears, petrol tanks, axles, wheels, etc., from various other factories.

<p>engines</p> Signup and view all the answers

The ______ trader earns little compared to the profit of a regular shop owner in a shopping complex.

<p>weekly</p> Signup and view all the answers

Whether we can be buyers or sellers in different markets depends, among other things, on the ______ that we have.

<p>money</p> Signup and view all the answers

It is through this ______ that what is produced in one place reaches people everywhere.

<p>chain</p> Signup and view all the answers

When things are sold, it encourages ______ and new opportunities are created for people to earn.

<p>production</p> Signup and view all the answers

Malls, like the one above, sell expensive and ______ goods.

<p>branded</p> Signup and view all the answers

Do they offer equal ______?

<p>opportunities</p> Signup and view all the answers

The vegetables come in ______, matadors, tractor trolleys from farms both near and far.

<p>trucks</p> Signup and view all the answers

Aftab participates in this ______ and decides what he will buy.

<p>auction</p> Signup and view all the answers

He has a ______ in the market where he stores the vegetables that he has bought.

<p>shop</p> Signup and view all the answers

From here he sells to ______ and shopkeepers who start coming to the market around six in the morning.

<p>hawkers</p> Signup and view all the answers

They have to organise their ______ so that they can start their shop for the day around ten in the morning.

<p>purchases</p> Signup and view all the answers

Markets everywhere ______ in a particular manner and time.

<p>work</p> Signup and view all the answers

You can place orders for a variety of things through the ______ and these days through the Internet.

<p>phone</p> Signup and view all the answers

People in urban areas can enter markets without stepping out of their homes via the ______.

<p>Internet</p> Signup and view all the answers

Flashcards

Branded goods

Products marketed under a specific brand name, often more expensive.

Non-branded goods

Products that do not carry a specific brand name, typically cheaper.

Shopping complexes

Large buildings with numerous shops selling various goods.

Malls

Multi-storeyed air-conditioned buildings housing shops on different floors.

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Weekly markets

Markets that operate on a weekly basis, often with lower-priced goods.

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Bargaining

Negotiating the price of goods, common in local markets.

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Procurement of goods

The process by which shop-owners source their products.

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Advertising influence

The impact of marketing promotions on consumers’ purchasing choices.

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Wholesale Trader

A trader who buys goods in large quantities to sell to other traders.

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Retailer

A trader who sells goods directly to the consumers.

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Vegetable Market (Mandi)

A marketplace where wholesale trade of vegetables occurs.

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Supply Chain

A system of traders connecting producers to consumers.

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Plastic Mug Example

A scenario illustrating the flow of goods from producers to retailers.

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Godown

A storage facility where goods are kept before distribution.

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Aftab's Business

A case study of a wholesale trader in the vegetable market.

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Wholesale Market Areas

Locations where large quantities of goods are first sold to traders.

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Market Chain

The series of interconnected markets that provide goods to consumers.

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Unequal Earnings

The difference in income that sellers in various markets earn.

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Affordability

The ability of buyers to purchase goods based on their income.

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Consumer Experience

How buyers interact with shops, influenced by their spending power.

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Chain of Production

The process from production to reaching consumers through various markets.

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Market Opportunities

Possibilities for earning and production available in different markets.

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Aftab's Auction

Aftab buys vegetables from an auction at the market.

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Quintals

A unit of weight equal to 100 kilograms used for buying vegetables.

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Market Time

Market activities peak at morning hours for purchases.

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Buying Methods

Items can be bought through phone or Internet, not just in-person.

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Sales Representatives

Individuals who sell goods to clinics and nursing homes.

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Online Purchases

Buying goods via the Internet using credit cards.

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Locality Markets

Markets that operate in a specific area to buy and sell goods.

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Variety of Goods

Different products bought and sold in the marketplace.

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Trader

A person who buys and sells goods, such as clothes in this case.

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High Price Impact

When goods are priced too high, customers may look for cheaper options.

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Group Selling

Sellers often collaborate, moving together to markets.

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Seasonal Demand

Increased sales of certain products during festival times.

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Shop Management

How a shop owner organizes their inventory and staff.

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Attractive Branding

Products displayed in a way that encourages consumer interest.

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Sujata's notebook

A record used by Sujata to note grocery expenses.

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Permanent shops

Stores that have a fixed location and operate regularly.

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Roadside stalls

Temporary vendors selling goods on the side of roads.

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Credit system

Allowing customers to pay for goods later.

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Neighborhood markets

Local shops providing goods and services within a community.

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Different kinds of sellers

Variety of vendors like permanent shops and hawkers in markets.

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Sujata's family payment

They will pay for the groceries in the following month.

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Anzal Mall

A five-floor shopping complex with various shops.

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Study Notes

Markets Around Us

  • Markets provide a place to buy various goods, including vegetables, soap, toothpaste, rice, dal, clothes, and more.
  • Markets exist in many forms, like shops, hawker stalls, weekly markets, shopping complexes, and malls.
  • This chapter explores how goods reach buyers, who the buyers and sellers are, and the challenges they face.

Weekly Markets

  • Weekly markets operate on specific days of the week.
  • They feature temporary shops set up for the day.
  • Sellers are often small-scale traders, not large businesses.
  • Prices in weekly markets are often lower due to lack of fixed overhead costs like rent.
  • Bargaining is common to negotiate lower prices.

Neighbourhood Shops

  • Neighbourhood shops offer a variety of goods and services.
  • They are typically located near homes, convenient for daily needs.
  • They provide goods like food, groceries, stationery, and more.
  • Goods are often purchased on credit.

Shopping Complexes and Malls

  • Shopping complexes are large buildings with various shops.
  • Malls are multi-storey buildings with a greater variety of goods.
  • These locations often sell branded goods and services.
  • Prices in malls tend to be higher than in other markets due to expenses and branded products.
  • Some goods are more expensive because retailers buy them in bulk.

Chain of Markets

  • Goods travel through various markets before reaching consumers.
  • This chain starts with producers, wholesalers, then retailers, and finally customers.
  • Wholesalers buy large quantities from producers, and retailers buy from wholesalers.
  • This system allows goods to reach a wide range of buyers.

Markets Everywhere

  • Markets are not just physical locations.
  • People can access goods through online purchasing and deliveries.
  • Sales representatives can provide products from specified locations.
  • Different ways of purchasing goods, not just going into a physical store.

Markets and Equality

  • Shop owners in weekly markets often operate on a smaller scale than those in shopping complexes or malls.
  • This difference in the nature of the business and financial resources affect the prices of goods.
  • Consumers also have varying purchasing power, and their access or ability to buy certain goods varies.

Additional Notes

  • The study of markets also involves understanding the role of various players (producers, traders, retailers, etc), and how markets are essential to society allowing for trade and commerce.

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Markets Around Us PDF

Description

This quiz covers various aspects of markets, including weekly markets, neighborhood shops, and shopping complexes. Explore how goods are distributed, who the buyers and sellers are, and the challenges within these market settings. Understanding these concepts will enhance your knowledge of economics and daily consumer experiences.

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