Social Science VSQ (2 Marks)

Markets mostly in urban areas having many shops are called shopping complexes. In many urban areas there are large multi-storeyed air conditioned building with shops on different floors, knows as malls.

Neighbourhood markets are near our house, one can go there at any day of the week. The buyers and sellers know each other and these shops also provide goods on credits.

Weekly markets do not have permanent shops. Traders set up shops for the day and then close them up in the evening. Then they may set up at a different place the next day. We don’t find big business persons in these markets because they sell their products through shops in large urban markets, malls and, at times, through special showrooms.

Shops in the neighbourhood are useful in many ways. They are near our home and we can go there on any day of the week. Usually, the buyer and seller know each other and these shops also provide goods on credit.

In the weekly market there are many shops that sell the same goods. This creates competition among them.

The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. These will then be sold to other traders. In these markets, buying and selling takes place between traders. It is through these links of traders that goods reach faraway places.

• There are many kinds of markets that we go for our everyday needs.
• They include shops, hawker's stalls in our neighbourhood, a weekly market, a large shopping complex, perhaps even a mall.

The popularity of a market depends on many things;
A market has to be conveniently located so that people can easily visit it must offer a wide range of good quality products at an affordable price a market must keep in mind the taste and standard of living of the buyers a market not only provide goods but also generate jobs and create employment. Due to demand for new goods, factories and industries also keep functioning.

Goods go through a chain of markets before reaching the consumer. Goods produced at one place reaches different areas through chain of markets. Selling of new products encourages productions and new earning opportunities.

• He wanted to stop Kavita and Sujata from entering the shop because he was not sure that they would buy goods from this shop.
• I would say that I want to buy goods even if they are costlier.

Weekly markets have many shops selling same goods, so there is a competition between them. People have a choice to the vendor selling at low price. Thereby buyer can bargain and bring the price down.

Sameer is a small trader in the weekly market. He buys clothes from a large trader in the town and sells them in six different markets in a week. He and other cloth sellers move in groups. They hire a mini van for this. His customers are from villages that are near the marketplace. At festival times, such as during Deepavali or Pongal, he does good business.

Branded goods are expensive because they are advertised and claims better quality. The companies producing these sell them through shops in urban markets or special showrooms.This further add to their cost. Few people can afford to buy branded goods.

Permanent shops contains goods that are expensive in comparison to goods of temporary shops. Permanent shops store the things they sell in their shops but temporary shops owner store goods to be sold at their home.

There are many buyers who cannot afford evan the cheapest of goods. While others frequently visit malls and buy different items.

Sameer is a small trader in the weekly market. He buys clothes from a large trader and sells them in six different markets in a week.

Shops that sell goods and services in our neighbourhoods are departmental stores, other shops such as stationery, eatables or medicines and roadside stalls such as the vegetable hawker, the fruit vendor, the mechanic, etc. We buy milk from the dairy, groceries from departmental stores, stationery, eatables or medicines from other shops.

Malls are shops with branded products that are costly and only the rich people can afford to buy them but the guard saw that Kavita and Sujata were not so rich to buy the products of the shop and that’s why he wanted to stop them to enter the shops.
If some stops me entering the shop I would feel embarrassed but would tell him that he has no right to stop me like this.

Aftab is a wholesaler in the city. He purchases vegetables in bulk and sells them to hawkers and shopkeepers.

We need markets because:

• To buy different kinds things we need in our daily life.
• It has shops selling various kinds of goods and service.
• The buyers have option to choose in markets.

In the neighbourhood markets people purchase goods without paying at that time and the shopkeeper notes it down. People pay at a later date when they have the money. This system is useful for low income group people.