1) In what ways is a hawker different from a shop owner?
Answer:
Hawker – A hawker is a mobile vendor who does not have a fixed place of business. They typically sell their goods from movable stalls or directly from their baskets, moving from place to place or setting up in different locations on different days. Hawkers often sell items like fruits, vegetables, and small household items.
Shop Owner – A shop owner operates from a fixed location, such as a permanent store or shop in a market or shopping complex. They may sell a wider variety of goods compared to hawkers, including groceries, clothing, electronics, and more. Shop owners usually incur more expenses, such as rent, utilities, and possibly employee wages, which can affect their pricing.
2) Compare and contrast a weekly market and a shopping complex:
Answer: Weekly Market vs. Shopping Complex
Kind of goods sold:
Weekly Market: Often sells a variety of everyday items such as fresh produce, spices, clothes, and household goods. The focus is more on necessity items and some local products.
Shopping Complex: Sells a wide range of goods, including branded apparel, electronics, luxury items, and more. The focus is on branded and high-end products.
Prices of goods:
Weekly Market: Generally offers goods at lower prices due to lower overhead costs and the presence of competition among sellers.
Shopping Complex: Prices tend to be higher due to higher overhead costs, the sale of branded items, and the ambiance and facilities provided.
Sellers:
Weekly Market: Sellers are usually small traders or local vendors who may not have permanent shops and set up stalls for the day.
Shopping Complex: Includes both large retailers and brand outlets, with permanent, well-designed stores.
Buyers:
Weekly Market: Attracts a wide range of buyers, especially those looking for bargains and fresh produce.
Shopping Complex: Attracts buyers looking for branded goods, a leisurely shopping experience, and those with higher spending capacity.
3) Explain how a chain of markets is formed. What purpose does it serve?
Answer : A chain of markets is formed through a series of transactions where goods move from producers to consumers through various intermediaries. This chain typically starts with producers (like farmers or manufacturers) who sell their products in bulk to wholesale traders. These wholesalers then sell goods to retailers, including shop owners, mall outlets, and hawkers, who finally sell these goods to the end consumers.
4) ‘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.
Answer: While all persons theoretically have equal rights to visit any shop in a marketplace, in practice, this might not always feel true, especially in the context of shops selling expensive products. For instance, high-end stores in malls might have an ambiance or implicit expectations that could feel intimidating to someone not used to shopping in such environments, potentially deterring them from entering.
5) ‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.
Answer: With the advent of technology and the internet, buying and selling have transcended the traditional need for a physical marketplace. Online shopping platforms like Amazon, Flipkart, and various others allow consumers to purchase a wide range of goods from electronics to groceries without physically visiting a store. Sellers can list their products on these platforms or even on social media to reach potential buyers.