Learning Goals:

Market is a place where goods are offered by sellers in exchange for money from buyers. We go to the market to buy everyday essentials, comfort goods and luxury goods. In other words, we purchase staples, apparels, footwear, housekeeping items, home appliances, stationery, artefacts, etc. from the market. The kinds of markets we visit for our basic needs and comfortable living include:

Weekly market

A weekly market is held on a specific day of the week. Permanent shops are not there in weekly markets. Traders set up a shop for the day and in the evening they close it. They set up the shops at another location the next day. In India, there are thousands of such shops. These cater to the everyday requirements of people. These have following salient features:

Advantages of weekly markets

Shops in the neighbourhood

Many shops sell goods and services in our neighbourhood. For example:

These are a mix of permanent shops and roadside stalls. Roadside stalls are that of eateries, vegetable hawkers, mechanics, etc.

Advantages of shops in the neighbourhood

Shopping complexes and malls

Shopping complexes are the markets in the urban areas that have many shops. Malls are large multi-storeyed air-conditioned buildings with shops on different floors. We get both branded and non-branded goods. As mentioned in the chapter on advertising, branded goods are more expensive than non-branded goods. The branded goods are sold by the companies through shops in large urban markets and at times, through special showrooms also. Because of the high costs of these due to packaging, advertising, etc. many people cannot afford to buy them.

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