Page 156 - Journeys Through Society-7

These markets are popular across the different branded and expensive, but the customers get
sections of the society. Many working couples and benefits such as credit-card purschase, parking for
people from well-to-do families visit these markets to vehicles, and so on.
procure their weekly stock of vegetables and items of
daily use. Chain of Markets
One of the major reasons for the popularity of these Let us try to understand how goods travel from the
markets is that they offer goods at low prices. producer to the consumer through this flow chart.
Makeshift shops for the day and the storage of goods Producer ® Wholesaler ® Big Traders ® Retailers
at homes of the vendors reduce the cost of the goods. and Small Traders ® Consumers.
Another reason is that there is a lot of competition
among the traders of these markets. This helps the
buyer bargain.

Shops in the Neighbourhood
We have seen that the weekly markets offer a variety
of goods. However, we also buy things from other
kinds of markets. There are many shops that sell goods
and services in our neighbourhoods. We may buy milk
from the dairy, groceries from departmental stores,
A wholesale market of clothes in Delhi
stationery, eatables or medicines from other shops.
Many of these are permanent shops, while others are
roadside stalls such as that of the vegetable hawker, AI Fact Technology Literacy
the fruit vendor, the mechanic, etc. AI can predict future market trends and price
Shops in the neighbourhood are useful in many ways. movements with a high degree of accuracy. This can
help investors make more informed decisions about
They are near our home and we can go there on any
which stocks or other investments to buy, hold or sell.
day of the week. Usually, the buyer and seller know
each other and these shops also provide goods on
credit. Manufactured or
finished products are
Shopping Complexes and Malls bought by wholesale

In large cities, we find shopping malls. A shopping mall traders from the
is a large building with shops of different kinds on its factory. The trader
many floors. The malls usually have very good facilities would, for example, buy
such as air conditioning, good lighting, escalators, the goods in quintals,
storage space, etc. But it costs a lot of money to instead of kilograms.
maintain a shop in a mall. Most of the goods sold are These goods are then
stored in godowns. You
will find wholesalers for
almost all kinds of A fruit market
goods. They then sell
their goods to other traders in the wholesale markets.
From these markets the goods are sold in bulk to the
retail market. Such retailers buy goods to sell at their
own shops. These shops can be local shops, shops at a
complex or the weekly shops. It is from the retailers
that consumers buy goods for their use.
Inside a mall
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