Podcast
Questions and Answers
It took almost 20 minutes to weigh and pack all the ______.
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.
If some trader were to charge a high ______, people would move to another shop.
price
Sujata showed the woman her ______.
Sujata showed the woman her ______.
notebook
Sameer is a ______ of clothes.
Sameer is a ______ of clothes.
The woman wrote down the amount of ______ in the notebook.
The woman wrote down the amount of ______ in the notebook.
Sujata took the heavy ______ out of the shop.
Sujata took the heavy ______ out of the shop.
One of the advantages of weekly markets is that most things you ______ are available at one place.
One of the advantages of weekly markets is that most things you ______ are available at one place.
He and other cloth sellers move in ______.
He and other cloth sellers move in ______.
Sujata’s family will pay for the purchases in the first week of next ______.
Sujata’s family will pay for the purchases in the first week of next ______.
Many shops in the neighbourhood are ______ shops.
Many shops in the neighbourhood are ______ shops.
His customers are from villages that are near the ______.
His customers are from villages that are near the ______.
At festival times, such as during Deepavali or Pongal, he does ______ business.
At festival times, such as during Deepavali or Pongal, he does ______ business.
The buyer and seller usually know each other in ______ shops.
The buyer and seller usually know each other in ______ shops.
Sujata and Kavita were sent to buy groceries from their ______ shop.
Sujata and Kavita were sent to buy groceries from their ______ shop.
Anzal Mall is a five-floor shopping ______.
Anzal Mall is a five-floor shopping ______.
On the top left shelf there were different brands of ______ cakes.
On the top left shelf there were different brands of ______ cakes.
Nor would the producers be interested in selling us small quantities such as ______.
Nor would the producers be interested in selling us small quantities such as ______.
The ______ trader buys goods in large quantities.
The ______ trader buys goods in large quantities.
A ______ is a large quantity of goods purchased at one time.
A ______ is a large quantity of goods purchased at one time.
The ______ is the trader who sells directly to the consumer.
The ______ is the trader who sells directly to the consumer.
A ______ market is a place where goods are first sold in large quantities.
A ______ market is a place where goods are first sold in large quantities.
A roadside ______ may purchase goods from a wholesale trader.
A roadside ______ may purchase goods from a wholesale trader.
The city wholesale trader would have bought goods from a ______.
The city wholesale trader would have bought goods from a ______.
A chain of ______ is set up to distribute goods from producer to consumer.
A chain of ______ is set up to distribute goods from producer to consumer.
Aftab, the ______, buys vegetables in bulk.
Aftab, the ______, buys vegetables in bulk.
A ______ uses fertilisers to grow crops.
A ______ uses fertilisers to grow crops.
A car factory purchases ______, gears, petrol tanks, axles, wheels, etc., from various other factories.
A car factory purchases ______, gears, petrol tanks, axles, wheels, etc., from various other factories.
The ______ trader earns little compared to the profit of a regular shop owner in a shopping complex.
The ______ trader earns little compared to the profit of a regular shop owner in a shopping complex.
Whether we can be buyers or sellers in different markets depends, among other things, on the ______ that we have.
Whether we can be buyers or sellers in different markets depends, among other things, on the ______ that we have.
It is through this ______ that what is produced in one place reaches people everywhere.
It is through this ______ that what is produced in one place reaches people everywhere.
When things are sold, it encourages ______ and new opportunities are created for people to earn.
When things are sold, it encourages ______ and new opportunities are created for people to earn.
Malls, like the one above, sell expensive and ______ goods.
Malls, like the one above, sell expensive and ______ goods.
Do they offer equal ______?
Do they offer equal ______?
The vegetables come in ______, matadors, tractor trolleys from farms both near and far.
The vegetables come in ______, matadors, tractor trolleys from farms both near and far.
Aftab participates in this ______ and decides what he will buy.
Aftab participates in this ______ and decides what he will buy.
He has a ______ in the market where he stores the vegetables that he has bought.
He has a ______ in the market where he stores the vegetables that he has bought.
From here he sells to ______ and shopkeepers who start coming to the market around six in the morning.
From here he sells to ______ and shopkeepers who start coming to the market around six in the morning.
They have to organise their ______ so that they can start their shop for the day around ten in the morning.
They have to organise their ______ so that they can start their shop for the day around ten in the morning.
Markets everywhere ______ in a particular manner and time.
Markets everywhere ______ in a particular manner and time.
You can place orders for a variety of things through the ______ and these days through the Internet.
You can place orders for a variety of things through the ______ and these days through the Internet.
People in urban areas can enter markets without stepping out of their homes via the ______.
People in urban areas can enter markets without stepping out of their homes via the ______.
Flashcards
Branded goods
Branded goods
Products marketed under a specific brand name, often more expensive.
Non-branded goods
Non-branded goods
Products that do not carry a specific brand name, typically cheaper.
Shopping complexes
Shopping complexes
Large buildings with numerous shops selling various goods.
Malls
Malls
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Weekly markets
Weekly markets
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Bargaining
Bargaining
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Procurement of goods
Procurement of goods
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Advertising influence
Advertising influence
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Wholesale Trader
Wholesale Trader
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Retailer
Retailer
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Vegetable Market (Mandi)
Vegetable Market (Mandi)
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Supply Chain
Supply Chain
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Plastic Mug Example
Plastic Mug Example
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Godown
Godown
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Aftab's Business
Aftab's Business
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Wholesale Market Areas
Wholesale Market Areas
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Market Chain
Market Chain
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Unequal Earnings
Unequal Earnings
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Affordability
Affordability
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Consumer Experience
Consumer Experience
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Chain of Production
Chain of Production
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Market Opportunities
Market Opportunities
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Aftab's Auction
Aftab's Auction
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Quintals
Quintals
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Market Time
Market Time
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Buying Methods
Buying Methods
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Sales Representatives
Sales Representatives
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Online Purchases
Online Purchases
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Locality Markets
Locality Markets
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Variety of Goods
Variety of Goods
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Trader
Trader
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High Price Impact
High Price Impact
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Group Selling
Group Selling
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Seasonal Demand
Seasonal Demand
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Shop Management
Shop Management
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Attractive Branding
Attractive Branding
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Sujata's notebook
Sujata's notebook
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Permanent shops
Permanent shops
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Roadside stalls
Roadside stalls
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Credit system
Credit system
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Neighborhood markets
Neighborhood markets
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Different kinds of sellers
Different kinds of sellers
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Sujata's family payment
Sujata's family payment
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Anzal Mall
Anzal Mall
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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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