Question

Class 6Social ScienceUrban Livelihoods

Talk to a shop owner in a market and find out how he plans his work. Have there been any changes in his business in the past twenty years?

Verified Answer

He owns a garment shop in a busy market. He does financial planning and budgeting at the end of each month. He decides about the vendor to be contacted and types of garments to be ordered. He keeps in mind people's preference and change in fashion while placing an order.

Yes, his business has been changed a lot with time. Previously, there were only 2-3 shops in the area. And therefore there was not much competition. Now, there are many shops in the area and customers are more aware. Now, he has to be more competitive.