1.
locality
2.
Option A
3.
Option A
4.
Wholesale means buying and selling of goods and products in very large quantities.
5.
This refers to buying and selling in bulk. Products like fruits, vegetables and flowers have wholesale markets.
6.
Chain of markets is a series of markets that are connected like links in a chain because products pass from one market to another.
7.
Retailer
8.
Option A
9.
cheaper
10.
wholesale
11.
Traders
12.
A mall is a type of market found in the urban areas. It is an enclosed space for shopping. It is usually a large building with many floors which have shops, restaurants, cinema theatres etc. These most often sell branded goods.
13.
Option A
14.
The difference in the buyers and sellers of a small shop and a mall is as under: Sellers: There is a difference between the small shop owners we see in the weekly market and the ones in a big shopping complex. The former is a small trader with little money whereas the latter is very rich and can spend a huge amount of money to set up the shop. The difference in their earnings is also substantial. Buyers: The buyers of the weekly market cannot afford even the cheapest of goods whereas the buyers visiting the malls are able to afford the branded goods and other luxury items on sale there. Hence there is a huge difference in the income levels of the buyers of both the markets.
15.
Option B
16.
Weekly markets have a large number of shops selling the same goods which means there is competition among them.
17.
Option B
18.
Weekly markets are the markets found at a place during one or two days of the week. They are not daily markets. They sell a range of products from fruits and vegetables to clothes to utensils. They have high competition.
19.
Retailer could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex.
20.
The trader who finally sells to the consumer is called the retailer.
