Media and Market Notes PDF

Media and Market - Notes Polity Copyright © 2014-2023 TestBook Edu Solutions Pvt. Ltd.: All rights reserved  Download Testbook App Media and Market Chapters Covered Chapter 6: Understanding Media(7t...

Media and Market - Notes Polity Copyright © 2014-2023 TestBook Edu Solutions Pvt. Ltd.: All rights reserved  Download Testbook App Media and Market Chapters Covered Chapter 6: Understanding Media(7th) Chapter 7: Markets Around Us(7th) Chapter 8: A Shirt in the Market(7th) Media Everyone is a medium of expression. A person interacts through media to reach out to other individuals and institutions. The media is generally the agency of interpersonal communication. Media includes every broadcasting and narrowcasting medium. Media is the plural of the word medium. Such a medium or media allows the communication of messages, ideas, thoughts, ideas, etc. This communication can be classified into: Personal communication: These are for personal use, such as letters, telephones, cell phones, e-mails and faxes. Mass Communication: These are used to communicate with the public. Newspapers, radio, TV, collectively they are called media. Media can be classified as follows: Narrowcast Media: Cable Television, Direct Mail, Seminars broadcast media: film, television, radio print media: Newspapers, Magazines, Magazines, Books, Posters, Reports Web Media: google website and blog social media: Twitter, Facebook, WhatsApp and Instagram Do you know? The printing press was invented by Johannes Gutenberg in 1453. All India Radio (AIR):Since 1956 it is officially known as Akashvani (Voice from the sky) is a Government of India radio broadcaster launched in 1936. SUBJECT | Polity 1 of 7  Download Testbook App John L. Baird was the inventor of the television. Importance of Media Media is a very powerful entity on earth. It is a mirror that reflects the various social, political and economic activities around us. People depend on media for various needs including entertainment and information. Media keeps people awake and it has become one of the major tools of social change. Media not only brings to the fore the day-to-day happenings in the world but also highlights the strength and weakness of the government. It also advertises various products produced by private companies. It creates awareness. All TV channels broadcast national and international news. Social problems are portrayed in many cinemas. Media provides a balanced report on any matter. It fights against socio-political evils and injustice in our society, while bringing empowerment to the masses and facilitating development. Media and People’s Advice Media plays a major role in the formation of public opinion (public opinion on particular issues). It is a powerful tool in contemporary times. It has become a part of everyday life of the people. They play a vital role in shaping an individual's understanding and perception about the events that occur in our daily lives. Mass media plays a vital role in providing honest, intelligent and generally unbiased descriptions of events. The newspaper reflects the reaction of the people to the policies of the government. Thus print media and electronic media help people to express their opinion on important social issues. Media and Technology The nomenclature of mass media is related to the various techniques used by the media. Changing technology and making it more modern helps media reach more people. It also improves the quality of sound and images. Apart from this, it has also changed the way we think about our own lives. Television has enabled us to think of ourselves as members of a larger global world. It has brought the world closer to us. Now sitting in Chennai or Jammu we can see the pictures of a storm which has hit the coast of Florida in USA. Media and Money SUBJECT | Polity 2 of 7  Download Testbook App The various technologies used by the mass media are expensive. TV studios have lights, cameras, sound recorders, transmission satellites, etc., which cost a lot of money. As technologies keep changing, a lot of money is spent on getting the latest technology. Due to this mass media require a lot of money to do their work. Most of the television channels and newspapers are part of big business houses. Nowadays mass media is constantly thinking about ways to earn money. One way to earn money is by advertising various advertisements like cars, chocolates, clothes, mobile phones etc. Ethics and Responsibility Ethics is a code of values ​that govern our lives. Hence they are very essential for a moral and healthy life. Ethics in the context of media can be described as a set of ethical principles. The media are expected to adhere to a code of conduct that should be reflected in their reporting and writing. Sensational and distorted news should be avoided. The basic objective of the media is to serve the people with news, views, comments and information on matters of public interest in a fair, accurate, fair and civilized manner and language. An awake and independent media is very essential for the functioning of the government. It has the right to collect information from any primary authentic source which is important to the society and then report the same for the purpose of informing so as not to create sensation. The media has a great responsibility in providing factual coverage. Role of Media in Democracy Media is the backbone of democracy. Public opinion is the driving force of public opinion in our democratic society. Media strengthens democratic values. It enlightens and empowers people. It can educate voters and ensure that the government is transparent and accountable. The media keeps a report of every action of the administration. Based on the information, citizens can know about the working of the government and the day-to-day happenings around them. It arranges debates on current affairs so that we can get different views for the same issue. The media reminds the government of its unfulfilled promises to the public. It educates the masses in rural areas. Parliamentary democracy can flourish only under the watchful eye of the media. Media not only reports but also acts as a bridge between the state and the people. Thus the media acts as a watchdog of the democratic government. Democracy without media is like a vehicle without wheels. SUBJECT | Polity 3 of 7  Download Testbook App Balance Report: A balanced report is one that discusses all the points of view of a particular story and then leaves it to the readers to make up their mind. Writing a balanced report depends on the freedom of the media. Independent Media: An independent media means that no one should control and influence the coverage of the news. No one should tell the media what can and cannot be included in the news. In fact, the media is not independent for two reasons: The government has a good hold on the media. This can prevent a news item, or scenes from a movie, or the lyrics of a song from being shared with the larger public. This is called censorship. There have been times in Indian history when the government censored the media. The worst of these was the Emergency between 1975-1977. The media often focus on a particular aspect of the story because they believe it makes the story interesting and increases public support for an issue. Do you know? Principle of Democracy: Democracy means rule by the people. It combines two Greek words. Demo refers to citizens. Kratos means either power or rule. local media: Usually media reports news of national and global importance while local media addresses public areas. Social Ads: It refers to the advertisements done by the government or private agencies which give a bigger message to the society. Following is a social advertisement regarding crossing of manned/unmanned level crossings. Setting the Agenda The media plays an important role in deciding which stories to focus on. Therefore, it decides what is newsworthy. By focusing on particular issues, the media influences our thoughts, feelings and actions, and brings those issues to our attention. The media is said to 'set the agenda' because of its significant influence in our lives. There are many instances when the media fails to focus on the important issues in our lives. Nowadays the media's close relationship with business has made it difficult to deliver a balanced report. The 'factual information' provided by a news report is often not complete and may be one-sided. Hence, analyzing the news and then reacting to it is the need of the hour. Market A market is any structure that allows buyers and sellers to exchange any type of goods, services, and information. The purpose of a market is to facilitate trade and enable the SUBJECT | Polity 4 of 7  Download Testbook App distribution and allocation of resources in a society. Markets vary widely in size, location, types of goods, regulation, and methods of exchange. Types of Markets 1. Weekly Markets: Function: Only operate on specific days of the week, traders set up temporary stalls. Cost Benefits: Items tend to be cheaper due to low overhead costs. Sellers often don't pay rent or salaries, reducing the price of goods. Social Aspect: Markets are not only places of economic transaction but also serve as social meeting points where people from different backgrounds interact. Example: The narrative of Sameer, a trader who buys clothes in bulk from larger traders and sells them across various weekly markets. 2. Neighborhood Shops: Accessibility: Permanent fixtures in residential areas, often within walking distance for local residents. Credit Facility: Commonly offer goods on credit, allowing customers to pay later, as illustrated by Sujata's interaction in her local shop. Trust and Relationship: There is often a personal relationship between shopkeepers and customers, which can influence transactions and credit terms. 3. Shopping Complexes and Malls: Wide Range: Offer a diverse array of products including high-end branded goods. Pricing Strategy: Generally more expensive due to higher operational costs such as rent, marketing, and staff wages. Experience: Aimed at providing a comprehensive shopping experience with amenities like food courts and entertainment options. Market Dynamics and Functions Supply Chain: Describes how goods move from producers to consumers through various intermediaries including wholesalers and retailers. Wholesale Markets: Crucial for the distribution of goods in bulk, which are then sold to smaller traders and retailers. Economic Interactions: The chapter discusses the auction process in wholesale markets, using the example of Aftab, a wholesaler who buys large quantities of vegetables and SUBJECT | Polity 5 of 7  Download Testbook App sells them to other traders. Economic and Social Implications Market Inequality: Discussion on the economic disparities between different types of market participants, such as small traders in weekly markets versus owners of permanent shops in malls. Consumer Behavior: Explores how consumers' purchasing power and preferences influence market dynamics and vice versa. Stages of Production and Distribution 1. Cotton Production Cotton Farmer: Swapna, a small farmer from Kurnool, faces economic challenges. She borrows money at high interest rates for cultivation and is compelled to sell her cotton at a low price to the trader she borrowed from. Economics: The control traders have over farmers due to debt traps them in a cycle of poverty and low prices. 2. Processing and Spinning Ginning Mill: Buys cotton from traders, removes seeds, and processes it into bales. Spinning Mill: Purchases these bales to spin into yarn, which is then sold to cloth merchants or directly to garment factories. 3. Weaving Weavers: Often work under a putting-out system where merchants provide the yarn, and weavers return the finished cloth. Economic Dependency: Weavers depend on merchants for raw materials and sales, which limits their earnings and reinforces power imbalances. 4. Garment Manufacturing Factories: Use the cloth to produce shirts, operating under pressure to minimize costs, which often leads to poor pay and working conditions for laborers, particularly women. Global Trade: Shirts are then exported, primarily to developed markets like the US and Europe. 5. Retail SUBJECT | Polity 6 of 7  Download Testbook App Pricing: In international markets, shirts are sold at significantly higher prices compared to the cost of production, leading to large profit margins for retailers abroad. Economic Disparities and Market Inequalities Farmers and Weavers: Despite hard work, they receive meager profits compared to their labor input. Merchants and Exporters: Have more control over pricing and profits due to their role in the supply chain. Retailers: Gain the most, benefiting from high retail prices in comparison to the production costs. Cooperative Movements Weaver’s Cooperatives: Offer a potential solution by reducing dependency on merchants, allowing weavers to earn more by collectively managing procurement and sales. Government Support: Sometimes assists cooperatives, enhancing their stability and market reach. SUBJECT | Polity 7 of 7