Curriculum Second-Hand Markets and Resale
Second-Hand Markets and Resale
How used goods markets work: what they are, the lemons problem, the used car market in India, depreciation, refurbished phones, thrift and fashion resale, the kabadiwala, online marketplaces, rules and consumer protection, the circular economy and right to repair, and a recap.
- What Second-Hand Markets Are Second-hand markets let people buy and sell used goods, from cars and phones to books and clothes, extending the life of products and lowering costs. 📄 Read-aloud
- The Lemons Problem Because sellers know more about a used product's quality than buyers do, buyers fear getting a bad one, which can shrink the market. 📄 Read-aloud
- The Used Car Market in India India sells more used cars than new ones in some years, with organised players like Cars24, Spinny and Maruti True Value challenging local dealers. 📄 Read-aloud
- Depreciation and Resale Value New goods lose value as they age, and how fast they lose it influences the true cost of ownership. 📄 Read-aloud
- Refurbished Phones and Electronics Refurbishers buy used phones, repair and resell them with warranties, serving buyers who want a cheaper smartphone. 📄 Read-aloud
- Thrift, Vintage and Resale Fashion Buying and selling used clothes has moved from charity shops to online platforms, driven by price and sustainability concerns. 📄 Read-aloud
- Second-Hand Markets and Resale: Checkpoint 1 Quick checkpoint - five questions on second-hand markets and resale. 5 questions
- The Kabadiwala and Informal Recycling India's informal scrap collectors buy paper, metal and plastic from households and sell them into recycling markets. 📄 Read-aloud
- Online Marketplaces: OLX, Quikr and Social Groups Online classifieds and local groups connect buyers and sellers directly, with trust and safety as key challenges. 📄 Read-aloud
- Rules, Taxes and Consumer Protection Used goods are governed by consumer law, and taxes and registration rules apply to cars and other big items. 📄 Read-aloud
- The Circular Economy and Right to Repair Reusing, repairing and recycling keep products in use longer, and right-to-repair rules make it easier for consumers to fix devices. 📄 Read-aloud
- Second-Hand Markets: Recap A recap of how used goods markets work. 📄 Read-aloud