The students’ trip to Market Yard provided excellent food for thought to the students. They utilized the information gained to enrich their understanding of business concepts. The younger students were introduced to basic concepts of demand, supply, and price.

They started with ‘what do we mean by market’ & ended up questioning the wholesalers at the market, regarding prices, lease rates & payment methods. Each student had set out with a list of questions they would ask the vendors. As they realized that some of the people we spoke to were commissioned agents, they quickly shifted to asking spur-of-the-moment questions.

Some of the interesting information they collected consisted of these core concepts:

1:  Is it a co-operative, government or free market? – Market Type

2:  Do the traders decide the price based on ‘auctioning’ or is there another method? Pricing Decision

3:  What constitutes a work day? Human Resources

4:  Do they treat large industrial buyers differently while deciding the price? Demand & Supply

5:  Do they work on the basis of ‘vendor – contractor - & sub-contractor’? - to understand the hierarchy. Human Resources

6:  Is the market always seasonal in nature, or are there other influencing factors? Demand & Supply

As the questions became more detailed, the students did not forget their manners & introduced themselves to the vendors, giving details of nature & purpose of visit. They eventually realized that each product was handled differently & while the flower & vegetable market had similar working hours, bargaining was possible at the vegetable market. They also discovered that auctioning is indeed the preferred mechanism to decide the price at supply levelfor the fruit market& that working hours are also different there.

The children returned to school to share their notes & write descriptive passages about the market. They enhanced their writing skills, learnt how to use vivid adjectives & emotive verbs. They are working on putting bulk into the essays, by following the “Thought – Elaboration – Illustration – Transition” pattern.

Overall, the tour was educational because it provided a practical view of how business is conducted locally. It provided the students with sensitivity for the business environment as well as excellent writing material for the newsletter.

The students were able to enjoy their banter & learn in a completely organic way.

Vinitha Vishwanathan August 2014