How does market work move in favour of the rich and powerful? What are the ways to overcome them? (V. Imp.]
It is usually the rich and the powerful who earn the maximum profits in the market. These people have money and they own the factories, the large shops, large land holdings, etc. The poor have to depend on the rich and the powerful for various things. They have to depend for loans, for raw materials and marketing of their goods and most often for employment. This dependence makes the poor miserable. They are easily exploited in the market. They get low wages in spite of their hard labour and the rich earn huge profits at the cost of the workers. There are ways to overcome these such as forming cooperatives of producers and ensuring that laws are following strictly.
What are the reasons that the business person is able to make a huge profit in the market?
You might have heard of cooperatives in your area. It could be in milk, provisions, paddy, etc. Find out for whose benefit they were set up?
Where do you think large farmers would sell their cotton? How is their situation different from Swapna?
What are the demands foreign buyers make on the garment exporters? Why do the garment exporters agree to these demands?
Compare the earnings per shirt of the worker in the garment factory, the garment exporter and the business person in the market abroad What do you find?
How do weaver's cooperatives reduce the dependence of weavers on the cloth merchants? [V. Imp.]
How does market work move in favour of the rich and powerful? What are the ways to overcome them? (V. Imp.]
If the weavers were to buy yam on their own and sell cloth, they would probably earn three times more. Do you think this is possible? How? Discuss.
What are the following people doing at the Erode cloth market merchants, weavers, exporters?
Who are involved in putting-out system? How is this system advantageous and disadvantageous for the weavers? [V. Imp.]