Shops in the neighbourhood

Question 1

List some advantages of neighbourhood shops

Answer 1

1) They are near our home and we can go there on any day of the week
2) Usually, the buyer and seller know each other and these shops also provide goods on credit ( they can pay for the goods at the end of the month when they money for example)

Question 2

If a person from the neighbourhood buys items from the neighbourhood shop with credit, can there be problems

Answer 2

As long as the shop owner and the buyer are honest, there will be no problems.
Problems can arise if the person doesn’t pay the credit on time.

Any other relavent answer

Question 3

What items can you find in the neighbourhood market

Answer 3

We can find many products such as different brands of detergent cakes, toothpaste,hair oil, consumables like diary products and vegetables. We can hence find a wide range of products in neighbourhood markets

Question 4

What are the kinds of sellers we find in weekly markets

Answer 4

We can find 2 main types of sellers-
1) People having permanent shops
2) Roadside Vendors

Question 5

Why are goods sold in permanent
shops costlier than those sold in
the weekly markets or by roadside
hawkers?

Answer 5

This is because the permanent shops have to pay for rent, workers salaries, electricity bills etc
Roadside hawkers dont have to pay these expenses