Page 210 - SST Class 07

Market Around Us 28

q Types of markets q Chain of supply
q Inequity in markets operations q Cycle of visiting markets

Introduction
vegetables, fruits, clothes, electrical goods,
We need to buy many things of our use such as tea, medicines, milk products, food products, books,
sugar, bread, books etc. Markets are the places stationery, pictures, sweets etc. A retail market
where we visit to buy these goods of our use. There may also have shops providing services, such as
are a whole variety of markets around us which barbers, mechanics, internet cafes etc.
feed to general or specific needs of the consumers.
Info Bits
Producers manufacture goods, sellers buy goods Info Bits
from them and sell it to the general customer. A
market refers to an area of business such as the The owner of a retail shop is called a retailer, and
markets for cars, readymade clothes etc. We can the owner of a wholesale shop is called a
find different types of markets in the main city. wholesaler.
Wholesale Markets
TYPES OF MARKETS
In contrast to a retail market, a wholesale market
Depending upon the volume of transaction and comprises of shops which normally cater to
variety of articles, markets can be divided into two specific needs of consumers; for example, a Subzi
broad types—retail markets and wholesale Mandi (vegetable market) will have shops selling
markets. vegetables, a Sarrafa Bazaar (jewellery market)

Retail Markets will have shops of jewellers, an Anaj Mandi (grain
market) will have shops selling only grains (wheat,
The shops in a retail market meet different needs rice etc.), and an Electronic Market will have
of consumers in less volume. Generally, a retail
shops selling electronic goods like television,
shop sells many articles; the consumers can buy radio etc. But this is not
articles in small volumes from here. The provision a fixed rule. As the
store or the chemist
population increases,
shop and the milk some wholesale shops
dairy in our may be located
neighbourhood market
elsewhere in the city
are the examples of than in the concerned
retail shops. A retail wholesale market. A wholesale market
market generally
comprises of different Info Bits
Info Bits
types of shops catering A retail market
to diverse needs of consumers. Thus, a retail Buying or selling goods and services within a
market may have shops selling provisions, country is known as internal trade or home trade.
Contemporary Social Science-7
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