NCERT Class 7 Political Science Chapter 8: Markets Around Us YouTube Lecture Handouts
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NCERT Class 7 Political Science Chapter 8: Markets Around Us
Why We Go to Market?
To buy products
What Are the Kinds of Market?
- Shops
- Hawker Stalls
- Weekly Market
- Large Shopping Mall
Weekly Market
- No permanent shops
- Held once a week
- Set up at different places in India
- Many such markets exist
- Meant for daily requirements
- Available at Cheaper rate
- Sell product made at home – less costly
- Permanent buildings have lot of expenditure as rent, electricity, fees to the government, and wages to their workers
- Good competition exists
- Bargain & reduce price
- Many things available at one place – major advantage – from grocery to clothes to utensils
Shops in Neighborhood
- Shops exist in neighborhood
- Milk
- Grocery
- Stationary
- Eatables
- Some are permanent shops
- Others are roadside stalls – vendors, hawkers
- Are near to home
- Can go there any day
- Buyer & seller know each other
- Shops do provide goods on credit
Shopping Complexes
- Have many shops
- Mall: large multistoried air-conditioned buildings with shops on different floors
- Both branded & non-branded goods
- Branded goods are expensive, promoted by advertisement & quality
- Special Showrooms
- Smaller number of people can buy branded products
Chain of Markets
Series of market connected like a chain as product pass from one market to another
Goods Produced in Factories, Farms or Houses
Markets Everywhere
- Exist in specific locality
- Now can place order by phone or internet
- Home delivery options
- Sales representatives wait for doctors
- Farmer purchase fertilizer to grow crops
- Car factory purchases engines from factories
- Traders earn unequal amount – weekly market traders earn less profit than shopping complex traders
- What is produced in one market reaches everywhere
✍ Mayank