Section outline

    • Q1. In what ways is a hawker different from a shop owner?

      Ans: 

      Hawkers Shop owners
      They move from one location to another to sell goods. They sell goods from a fixed building.
      They usually get low profits. They usually have high profits.
      They can bring the goods to doorstep of customers. They can't bring the goods to doorstep of customers. 
      They can sell various goods. They can sell goods limited to the type of shop.
      Initial investment is low. Initial investment is high.
      Eg: They can sell clothes, utensils, other items together Eg: A clothing shop can sell only clothes 
      Q2. Compare and contrast a weekly market and a shopping complex on the following:

      Ans:

        Weekly market Shopping complex
      Kind of goods sold Everyday goods like vegetables, groceries, cloth, items, utensils. Branded items such as readymade clothes, home appliances, footwear, leather items, etc.
      Prices of goods Prices of goods are affordable. Prices of goods are usually high and affordable to high income people.
      Sellers Small traders and hawkers Big businesses and traders.
      Buyers Lower or middle income people Upper middle class or high income people
      Q3. Explain how a chain of markets is formed. What purpose does it serve?

      Ans:

      1. Producers produce goods in factories, farms or in homes. The producers are not interested in selling goods in small quantities.
      2. The consumers are also not interested in buying large quantities of goods from producers. 
      3. Hence, there are people in between the producers and final consumers called as traders.
      4. The wholesale traders buy goods in large quantities from producers.
      5. Then they sell these goods to the retailers, who finally sell goods to the consumers.
      6. These retailers can be hawkers, or traders in weekly markets or shop owners in shopping complex.
      7. Hence, a chain of markets in formed through which the goods reach the final consumers from the factories.
      8. Chain of market helps the goods to reach faraway places, maintains the flow of money, makes easy availability of various goods & promotes coordination in society.
      Q4 ‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true of shops with expensive products? Explain with examples.

      Ans:

      1. It is true that all persons have equal rights to visit any shop in the marketplace.  
      2. But this is not true of shops with expensive products because: 
      • Only people with high incomes can buy expensive products.
      • Hence, the poor or people with low income don't go to these shops instead they go to weekly markets or places where goods are available at cheaper rates. 
      Q5. Buying and selling can take place without going to a marketplace’. Explain this statement with the help of examples. 

      Ans:

      It is correct that buying and selling can take place without going to a market place. It is done in the following manner:

      1. We can order goods that we need over the telephone and get their delivery at any place we want.
      2.  Over the internet, we can visit the concerned website and order the products.
      3. We can pay through internet banking or on the delivery of goods.