Page 121 - Key to Social Studies 3
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The Transformation of Markets
Centuries ago, markets were not as we
know them now. In the past, markets
were local, meaning that people mainly
bought and sold products that were
related to their city or community only.
Nowadays, people can buy anything
from anywhere because of the ease of
trade. You can go to the market, or you
can have what you want delivered to
your doorstep!
The Growth of Producers and Consumers
In the past, there were a few number of producers and
a high number of consumers. That is why the products
and their types were few, with no diversity and no big
demand for new items. In today’s world, however, the
number of consumers has largely grown and their
demand for new products and ideas has grown as well.
This has led to the presence of many products of di erent
types. The development in technology has also led to
producing new products to meet the consumers’ needs.
Moreover, thanks to technology, consumers now can buy
goods online and get them shipped anytime anywhere.
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