Question

How does market work move in favour of the rich and powerful? What are the ways to overcome them?

Answer 1

Hint: Merchants deliver clothes to garment manufacturers and exporters all over the country on demand. The weaver receives orders from the merchant for what is to be made. They also decide on the price. The merchants sell the cloth to the garment factories at the cloth market. As a result, the market is more favourable for merchants.

Complete answer:
The wealthy and influential are usually the ones who profit the most in the market. These folks have money and own factories, vast stores, large landholdings, and other businesses. For a variety of reasons, the poor must rely on the wealthy and powerful.

They must rely on loans for raw supplies, marketing, and, in the majority of cases, employment. The poor are miserable as a result of their reliance. In the market, they are easily exploited. Despite their hard work, they are paid modest pay, while the wealthy profit at the expense of the workers.

There are ways to overcome these obstacles, such as organising producer cooperatives and ensuring that rules are carefully obeyed. Markets are inherently one-sided. In other words, it is always the wealthy and powerful who benefit the most from the market. They exploit underprivileged workers by overworking them and underpaying them.

Note: Weavers' cooperatives assist weavers in earning a higher wage and reducing their reliance on merchants. Weavers create a group and initiate various activities collectively in a weaver's cooperative. Among these activities are:
(i)Yarn is purchased from a yarn trader.
(ii)Yarn distribution among weavers
(iii)Marketing
The government also steps in to assist the weavers on occasion.