A Shirt in a Market MARKET1 By:- Rehana Aziz K.V. No.1 Bikaner.
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Transcript of A Shirt in a Market MARKET1 By:- Rehana Aziz K.V. No.1 Bikaner.
MARKET 1
MarketA Shirt in a
Market
By:-Rehana AzizK.V. No.1Bikaner
3
DefinitionA market is any geographical area where exchange of goods and
services takes
place via money between buyers and sellers.
It is a place where the
sellers of a particular good or service can meet with the buyers of
that
goods and service where there is a potential for a transaction to
take place.
The buyers must have something they can offer in exchange for
there to be a potential transaction.
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It can be defined as a place where any type of trade
takes place. Markets are dependent on two major
participants – buyers and sellers. Buyers and sellers
typically trade goods, services and/ or information.
Historically, markets were physical meeting places where
buyers and sellers gathered together to trade. Although
physical markets are still vital, virtual marketplaces
supported by IT networks such as the internet have
become the largest and most liquid.
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Weekly Market
A weekly market is a market which is held on a
specific day of the week. It does not have
permanent shops. As comparison with other
markets it is a very cheap and in-budget market.
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Shopping Complexes and
Malls
A shopping mall, shopping centre, shopping precinct
or simply mall is one or more buildings forming a complex
of shops, with interconnecting walkways enabling visitors to
easily walk from unit to unit, along with a parking area — a
modern, indoor version of the traditional marketplace
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Chain of Markets
The supply chain consists of mostly for-profit companies
engaged in activities involving product creation and delivery.
Essentially the chain represents major steps needed to
manufacture a product that will eventually be sold as a final
product. Each member of the supply chain purchases products
and services enabling them to carry out its business objectives.
When making purchase decisions supply chain members may
be motivated by such factors as: product cost, return on
investment (i.e., benefits obtained exceed price paid),
assurance of consistent supply (i.e., product is available and
delivery is on-time), reciprocity with supplying firm (i.e., we buy
from you and you buy from us), and much more.
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Examples of purchasing occurring in the supply chain
include: manufacturing and plant equipment, information
technology, office supplies, professional business services,
etc.
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Markets and Equality
The exchange of goods and services in a free market will
often produce unequal outcomes. People will generally
reject transactions that make them worse off, but a few will
make mistakes that push them into poverty.
Some mistakes will be made when naïve or innocent people
are “ripped off” by bad people (they should be forced to
make restitution), but most poverty is not the result of evil
actions, but flows from the vagaries of life. Trade in free
markets can push people into poverty without any immoral
action being taken.
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•A bad decision in a free market can produce a huge
loss.
•An unwise offer will sometimes be accepted.
•A desperate seller may be forced to accept a very low
price.
•Some people are foolish buyers.
•Others are foolish sellers
•Some people are not as clever as others.
•People with rare skills can achieve higher pay than
others.
•People who do not use their skills and capital may find
themselves in poverty.
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A Shirt in a Market
In this part we will discuss that what are the various steps
involved in the manufacturing of the shirt in the market till the
delivery of the final product to the customers.
Cotton industry in India
It is a characteristic of many great nations that they leave
their imprint on specific industries and crafts so that thoughts
of one are immediately associated with thoughts of the other
-- silks with Japan, batik printing with Indonesia, wood carvings
with the Philippines, tea with Sri Lanka and cotton textiles with
India.
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Some are the result of geography, others have been
developed because of the ready availability of materials--but
all bear the individual stamp of a country's genius and a
peculiar relationship to the people and their history.
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India's woven textiles are famous throughout the world.
Delicate colors and distinctive patterns have been hallmarks of
the Indian craftsmen for centuries past; the beautiful cotton
materials shown above are typical examples.
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The cotton cloth weavers of India have been known since the
earliest days of recorded history. A fragment of madder-dyed
cloth found in the Indus Valley excavation in northern India
showed that weaving and dyeing were flourishing arts over
5,000 years ago. They were skills that were to increase and
diversify down the centuries, attracting wider and more
lasting acclaim. Arab travelers in 9th Century India reported
that "...they make garments of such extraordinary perfection
that nowhere else is their likeness to be seen..." Marco Polo
observed that the art of embroidery, as practiced in Gujarat in
the 13th Century, was incomparable.
History
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It was not only the technique of dyeing that made India's
textiles famous. The fabrics were embellished with
scintillating designs which India alone could offer. There were
some of which every thread of warp and weft was dyed
before being placed on the loom; a design appeared as the
weaving progressed and was identical on either side. It was
the craft of the individual artist who inherited his skill from
his forbears and who gave his own aesthetic conception to
the products he made with his own hands.
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Case Study
Kurnool is a small place in Andhra Pradesh, there lives a
farmer named Swapna, who grows cotton on her small piece
of land. The balls of the cotton plant are ripped and then are
to be picked. These bolls take several days to burst and then
they harvest.
Swapna and her husband decided to take the cotton to the
local trader instead of selling it in the Kurnool cotton market.
In the beginning she had borrowed Rs. 2500 from a trader at a
very high rate of interest; as cotton harvesting require high
levels of input, but with a promise to sell all the cotton to that
trader.
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At the traders’ yard two of his men weigh the bags of cotton,
at a price of Rs.1500/quintal and it fetches Rs. 6000. The
trader deducts Rs. 3000 for repayment of loan and interests
and paid Swapna Rs.3000
Related questions to the Case Study
Why do small cotton farmers borrow money?
To whom does Swapna sell all her cotton and why?
Why did the trader pay Swapna a low price?
Did the trader pay Swapna a fair price?
18
The Cloth Market in Erode
Erode is a city, an urban agglomeration, a municipal corporation and
headquarters of the Erode district in the South Indian state of
Tamil Nadu
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Erode is well known for handloom, power loom textile
products and readymade garments and hence it is called
Loom City of India or Texvalley of India. Products such as
cotton sarees, bed spreads, carpets, lungies, printed
fabrics, towels, dhotis are marketed here in bulk. It has
also been nicknamed as Manjal Maanagaram (Turmeric
city) and Javuli nagaram (Textile city).
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Putting-out-system-Weavers Producing Cloth at Home (at
Erode)
Based on the order the merchant distribute the work among the
weavers as he receives the cloth. They get the yarn and then
supply the cloth to him. For the weavers there are two
advantages:-
•The weaver does not have to spend their money on purchase of
yarn.
•The problem of selling the finished clothes is also taken care of.
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Due to this they come on to the judgment that how much cloth
they have to produce and what cloth they have to make. But this
means that they have lot of power in the current market. They
give orders and pay a low price.
After this the cloth is being send to the garment factories, in this
the market works in the favor of the merchants.
The arrangement between the merchants and the weavers is an
example of putting-out system, whereby the merchant supplies
the raw material and receives the finished product.
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The garment Exporting Factory near Delhi
The Erode merchant supplies the cotton cloth to
garment exporting factory near Delhi. It will use the
cloth to make shirts, then these are exported to
foreign buyers, they set high standard of quality of
production and timely delivery. So, the exporter tries
his best to meet the conditions set by these
powerful buyers. In turn the garment exporting
factories try to cut cost.
MARKET 23
In this way a cotton shirt is manufactured by raw cotton and
then is delivered to the final consumers. This whole process
decides the price of the shirt, if the foreign buyers or big
brands are involved then the price will be at it heights and if
it’s being send to a local shopkeeper the cost will be
according to it.
MARKET 24
ASSIGNMENTWHAT IS MARKET ?DIFFERENCE BETWEEN MALL AND
SUNDAY MARKET ?WHAT IS CHAIN MARKET ?WHAT ARE THE DISADVANTAGES OF
ADVERTISEMENT ?
MARKET 25
ACTIVITYBY SHOWING SOME OF THE GOODS (COPY,
PEN, PENCIL, BOOKS ETC.), AND INTERACT WITH STUDENTS.
MARKET 26
PROJECTCOLLECT ADVERTISEMENT CUTTING AND
PASTE THEM IN SCRAPBOOK.