ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย Hawkers/Street vendors
E. Very Short Answer Type Questions (20โ30 words)
1. What is a market?
Answer: A market is a place where goods and services are exchange between buyers and sellers.
2. Who are the people involved in a market?
Answer: The people involved in a market include buyers, sellers, traders, vendors, and consumers.
3. What is a wholesale market?
Answer: A wholesale market is a place where goods are sold in large quantities, usually to retailers or businesses at lower prices.
4. What is a retail market?
Answer: A retail market is where goods are sold directly to consumers in small quantities for personal use.
5. Who are vendors?
Answer: Vendors are people who sell goods, often on streets, in markets, or door-to-door, buses, and traffic signals.
F. Short Answer Type Questions (50โ60 words)
1. Describe departmental stores.
Answer: Departmental stores are large retail establishments that offer a wide range of products under one roof. They are divided into various sections or departments, each selling a specific type of product, such as clothing, electronics, groceries, etc., for consumer convenience.
2. What do you understand by speciality markets?
Answer: Speciality markets are markets that focus on a specific type of product, such as electronics, books, jewellery, or handicrafts. These markets cater to a particular need or interest of customers, offering variety and expertise in that category.
3. Explain franchise outlets.
Answer: Franchise outlets are stores operated by individuals or groups under the brand name of a larger company. The franchisee sells products or services following the companyโs established rules, ensuring uniform quality and branding.
4. Discuss who benefits from online shopping.
Answer: Consumers benefit from online shopping as it offers convenience, a wide range of choices, home delivery, and competitive prices. Sellers also benefit by reaching more customers and reducing overhead costs.
5. Examine the importance of advertisement.
Answer: Advertisement is important as it informs consumers about products and services, persuades them to buy, and creates brand awareness. It helps companies reach a wide audience and influences purchasing decisions.
G. Long Answer Type Questions (80โ100 words)
1. Elaborate on the factors that influence the functioning of wholesale markets.
Answer: Wholesale markets are influenced by factors such as demand and supply, transportation facilities, storage and warehousing, government policies, and pricing mechanisms. Efficient logistics and communication systems also play a vital role. Wholesale markets function effectively when there is a strong network of buyers and sellers, availability of quality goods, and competitive pricing.
2. Write about different types of retailers.
Answer: Retailers can be classified into different types: departmental stores, chain stores, supermarkets, specialty stores, convenience stores, online retailers, and street vendors. Each type has a unique way of operating, catering to different customer needs, and varying in size, product range, and pricing.
3. What are the factors that help us to choose a market?
Answer: Factors include product availability, pricing, location, quality, variety, reputation, customer service, and convenience. People may also consider cleanliness, safety, and parking availability when choosing a market.
4. Markets play an important role in our lives. Explain.
Answer: Markets are essential for economic activity. They provide goods and services, create employment, support business growth, and ensure the circulation of money. Markets help producers sell their products and allow consumers to get what they need. They also support trade and influence lifestyle and consumption patterns.
H. Higher-Order Thinking Skills
1. Has online shopping affected small traders? Think and answer.
Yes, online shopping has affected small traders by reducing their customer base as many people prefer the convenience and discounts of online purchases. However, some small traders have adapted by selling online.
2. How do you think all franchise outlets of a company are able to maintain the standard of the product or service?
Answer: Franchise outlets follow strict guidelines set by the parent company regarding quality, service, pricing, and branding. Regular training, audits, and standardized supply chains help maintain uniformity across outlets.
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