7. spl 7. market around us

NCERT CLASS VII SOCIAL AND POLITICAL LIFE

1. SOCIAL AND POLITICAL LIFE CLASS VII MARKET AROUND US S M NOOLKAR TGT - SOCIAL SCIENCE JNV BIDAR

2. INTRODUCTION Have you ever been to market? If you go to market, what would you like to buy? What type of market you have visited recently? What kind of goods are sold in that market? What special things did you notice there?

3. WHAT IS MARKET? Market is process or activity in which buying and selling of goods and services take place. It creates link between producer of goods, traders and buyers. This process of buying and selling can take place anywhere and anytime. The process may take place at a shop and even in any form like online shopping.

4. TYPES OF MARKET Weekly markets Shops in the Neighbourhood Shopping Complexes and Malls Markets everywhere - Online Markets

5. WEEKLY MARKET A weekly market is so called because it is held on a specific day of the week . Shops are not permanent. Traders set up shops for the day and close in the evening. Next day traders move to another market. Buyers come here for everyday requirements.

6. WEEKLY MARKET Advantages Things sold in weekly market are cheaper. Many things are available at one place. Many shops selling same things will be there. Buyer can bargain and bring the price down. Customers have the choice to select goods. Disadvantages Shops are not permanent. Branded things are not available. Replacement of goods if found defective is not possible. Quality of things available here is may not be reliable.

7. Shops that are set up in our neighbourhood . The shops are permanent and sell may things. Some are roadside stalls such as fruits and vegetable stalls and mechanics etc. They include: Milk Dairy Grocery shops Departmental stores Vegetable and fruits shops Medical stores Bakery and Sweet stalls SHOPS IN THE NEIGHBOURHOOD

8. How are neighbourhood shops useful? They are near to our home and we can go to shops on any day of week. Buyer and seller know each other. These shops provide goods on credit. That means you can pay later for your purchases.

9. SHOPPING COMPLEXES AND MALLS

10. SHOPPING COMPLEXES AND MALLS The markets in the urban area that have many shops are popularly called shopping complexes . Large multi-storeyed air-conditioned buildings with shops on different floors, are known as malls . In these markets we get branded and non- branded goods. Goods sold here are expensive since they are branded and advertised for promotion. Companies producing goods have their show rooms here. Fewer people afford branded goods as they are costlier.

11. All markets work in a space in a particular manner and time. Buying and selling takes place in different ways, not necessary through shops in the market. There are even markets we may not be aware of. Large number of goods that we don’t use directly are also bought and sold. For example a car factory purchases engine, parts, gears, petrol tanks, axles, wheels, etc. from various other factories . We do not get to know about either the manufacturers or the sellers involved in it . Online shopping is the recent trend in which we get goods without going to market. Once order is placed, goods are delivered to our door steps. MARKETS EVERYWHERE – ONLINE SHOPPING

12. CHAIN OF MARKET Goods are produced in factories, on farms and in homes. W e don’t buy directly from the factory or farm. The people in between the producer and the final consumer are the traders . The wholesale trader first buys goods in large quantities . The trader who finally sells this to the consumer, is the retailer. This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex. How do you think your neighbourhood shop gets its goods?

13. CHAIN OF MARKET

14. CHAIN OF MARKET

15. We have seen two market situations such as weekly market and Shopping malls. Owners of these markets are different people. Profit earned by these people depends on how much they invest on their business. If investment is less , profit also will be less. If investment is more profit also will be more. In weekly market, trader earns little compared to the profit of a regular shop owner in a shopping complex . Which means there will not be equality in the market. Even buyers too has difference. Some people are able to afford cheap goods while others shop in shopping complexes. This depends on how much money one can spend on running a shop or buying goods. MARKET AND EQUALITY

16. In this chapter we understood what market actually is. The way how different types of markets work. Whether people involved in buying and selling are enjoying as equal. The concept of equality in the market never achievable. Ultimately it depends on how much one can spend and afford. Even the people who are in the chain of market also do not get equal profit. COCLUSION

17. THANK YOU