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Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "new economic sociology".
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit.
Neighbourhood shopping areas and retailers give value to a community by providing various social and community services (like a library), and a social place to meet. Neighbourhood retailing differs from other types of retailers such as destination retailers because of the difference in offered products and services, location and popularity. [37]
In economics, consumerism refers to policies that emphasize consumption. It is the consideration that the free choice of consumers should strongly inform the choice by manufacturers of what is produced and how, and therefore influence the economic organization of a society.
Karl Paul Polanyi (/ p oʊ ˈ l æ n j i /; Hungarian: Polányi Károly [ˈpolaːɲi ˈkaːroj]; 25 October 1886 – 23 April 1964) [1] was an Austro-Hungarian economic anthropologist, economic sociologist, and politician, [2] best known for his book The Great Transformation, which questions the conceptual validity of self-regulating markets.
Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services.It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour.
Retail workers are people who are employed by any form of retail store. Typically one of the first jobs people work in, many retail workers are as young as 14. [ 1 ] The jobs of a typical retail worker include processing customers payments, and helping customers around the store, and little training is required.
The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace , that is; a location where goods and services are exchanged.