Understanding Markets and Trading

False (B)

Sameer buys clothes wholesale and sells them in different markets throughout the week.

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

<p>To have a variety of products and choices available. (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Neighborhood shops</p> Signup and view all the answers

<p>Dairy = Milk Departmental stores = Groceries Neighborhood shop = Medicines Weekly Market = Clothes</p> Signup and view all the answers

<p>Buying goods in large quantities and selling to other traders. (C)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Wholesale traders buy in large quantities, while retailers buy in smaller quantities.</p> Signup and view all the answers

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

<p>Producer = Initial source of goods. Wholesale Trader = Buys in bulk and sells to other traders. Retailer = Sells directly to consumers. Consumer = Final purchaser of the goods.</p> Signup and view all the answers

<p>To ensure that goods reach faraway places and consumers efficiently. (D)</p> Signup and view all the answers

<p>They appeared unable to afford the merchandise. (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>A roadside hawker selling plastic items. (B)</p> Signup and view all the answers

<p>Bargaining is common in weekly markets but not typically done in malls.</p> Signup and view all the answers

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

<p>Weekly Market = Prices are negotiable Malls = Air-conditioned multi-storeyed buildings Shopping Complexes = Multiple shops in an urban area Showrooms = Exclusive outlets for branded goods</p> Signup and view all the answers

<p>Advertising and claims of better quality (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Branded goods are typically sold in large urban markets and special showrooms.</p> Signup and view all the answers

<p>To record the amount owed for her purchases to be paid later. (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Personal relationships/credit options</p> Signup and view all the answers

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

<p>Permanent Shops = Located in buildings, may offer a wider range of goods. Roadside Stalls = Often temporary, lower overhead costs, may specialize in specific goods. Weekly Markets = Held on specific days, offer a variety of goods and services.</p> Signup and view all the answers

<p>Neighborhood shops are closer to residential areas and offer convenience for daily needs. (B)</p> Signup and view all the answers

<p>These are near our home and we can go there on any day of the week. (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Hawkers and shopkeepers (C)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Six in the morning</p> Signup and view all the answers

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

<p>Aftab = Participates in auctions and buys vegetables. Hawkers and Shopkeepers = Purchase vegetables from Aftab to sell in their shops. Farmers = Bring vegetables to the market in trucks and tractor trolleys. Customers = Purchase goods and services in a specific locality.</p> Signup and view all the answers

<p>Organise their purchases. (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Credit cards (B)</p> Signup and view all the answers

<p>Shops purchase goods from factories through a chain of suppliers. (A)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Shop owners in a weekly market typically have less money to run their shops compared to those in a shopping complex.</p> Signup and view all the answers

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

<p>Weekly market = Small traders and buyers with limited financial resources Shopping complex = Shop owners and buyers with greater financial resources</p> Signup and view all the answers

<p>The amount of money they possess. (C)</p> Signup and view all the answers

<p>Manufacturers often purchase components from various other factories before assembling the final product. (B)</p> Signup and view all the answers

<p>When goods are sold, it creates a demand signal that incentives producers to manufacture more, fostering economic growth and opportunity.</p> Signup and view all the answers

Places where various goods are sold on a regular basis, offering convenience and choice.

A small trader who sells clothes in different weekly markets, buying from larger traders.

The availability of different products allows customers to select what they prefer.

Weekly markets offer a wide range of products like vegetables, groceries, and cloth items.

The act of buying items like groceries, clothing, or household supplies in a store or market.

Shops with many customers, often leading to limited space and waiting times.

Increased buying behavior during specific celebrations, leading to higher sales for traders.

Purchasing food and household items, often involving lists and multiple product choices.

Expensive items promoted by advertising, claiming better quality.

Affordable items without a well-known brand name associated.

A collection of shops within a larger building, often selling various goods.

Large multi-storeyed buildings with air-conditioned shops on different floors.

The process by which shop-owners source their products from producers.

Prices of goods in different marketplaces, varying significantly between types.

Negotiating prices, common in local markets but not in malls.

A record of the total amount spent during grocery shopping.

A system where buyers can pay for purchases later.

Established stores that sell goods on a fixed location.

Temporary selling points for vendors, often movable.

Local stores that offer convenient access to goods.

Different types of sellers and shops within a market.

Individuals who sell goods directly in the community.

A person or entity that buys goods in large quantities to sell them to retailers.

Traders act as intermediaries between producers and consumers, facilitating the distribution of goods.

The final seller in the distribution chain, who sells goods directly to consumers.

A local market where vegetables are bought and sold, often bustling with activity.

The series of processes through which goods are produced, distributed, and sold to consumers.

A storage facility where wholesale traders keep large quantities of goods before selling them.

Purchasing large quantities of goods at once, typical for wholesalers.

The process by which goods move from producers to consumers through various traders.

Aftab buys vegetables like cauliflower and onions through auctions.

Aftab stores purchased vegetables in his market shop.

People who buy from Aftab to sell in their own shops.

Hawkers organize purchases to open shops by 10 AM.

Buying goods through the Internet for home delivery.

Individuals selling goods in clinics or nursing homes.

Buying and selling occurs in various ways beyond physical markets.

Using credit cards for online purchases in urban areas.

The series of transactions that enable products to reach consumers from producers.

The differences in income and opportunity among sellers and buyers in various markets.

A hawker is a small trader, while a shop owner typically runs a larger store with more capital.

The process where selling goods promotes further production and economic activity.

The ability of different consumers to purchase goods depends on their financial means.

The principle that everyone has the right to access shops, though not all can afford access.