Page 222 - SST Class 07
P. 222
6 6 6
Markets Around Us
Market is a place where the goods are offered by
the 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, house-
keeping items, home appliances, stationery,
artefacts, etc. from the market. The kinds of
markets we visit for our basic needs and comfort-
able living include :
g Weekly Markets
Shopping Complex
g Neighborhood Shops
g Shopping Complex and Malls
Mall
Weekly Market IMPORTANCE OF A MARKET
Markets establish a link between producers and
consumers through traders. Traders buy finished
goods from the producers and sell them to the
consumers. They also take care of the two
important barriers of trade, namely, the distance
between the place of production and the place of
consumption and the time lag between produc-
tion and consumption. What will happen if a
farmer has to travel for days to sell his perishable
farm products? By the time, he reaches the place,
Neighborhood Shops all his goods would have been spoilt!
Social Science-7 222
