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Question
Rishi went out to buy a list of groceries that his mother gave him. After buying all the items in the list, he told the seller that he will make the payment at the end of the month. Which kind of market did Rishi go to?
Rishi went out to buy a list of groceries that his mother gave him. After buying all the items in the list, he told the seller that he will make the payment at the end of the month. Which kind of market did Rishi go to?
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Solution
The correct option is C Neighbourhood Shop
In neighbourhood shops, the shop owner and customers know each other. Hence, shop owner often gives goods on credit. Credit is obtaining goods or services on the basis of trust that the payment will be made in the future.
In neighbourhood shops, the shop owner and customers know each other. Hence, shop owner often gives goods on credit. Credit is obtaining goods or services on the basis of trust that the payment will be made in the future.
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