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What is an organized and unorganized market?

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posted Jun 13 by Vijay

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1 Answer

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Organised market we can say where the presence of the regulator or law is visible. There is standard way to run the business under the eyes of law.The business or enterprises are the registered with the regulator or say government agencies.Workers enjoy security of employment.The enterprises or places of work where the terms of employment are regular and therefore, people have assured work. As they are registered by the government and have to follow its rules and regulations which are given in various laws such as the Factories Act, Minimum Wages Act, Payment of Gratuity Act, Shops and Establishments Act etc.Worker enjoy benefits like paid leave, Provident fund and medical benefits.

Where is the unorganized market The enterprises or places of work are not registered by the government and does not follow any rules or regulations. There are no terms of employment.Workers do not enjoy security of employment.Workers do not enjoy any benefits.The unorganized sector comprises mainly of workers in small scale industries, casual workers in the construction trade and transport sectors and those who work as street vendors, head-load workers, garment makers and rag pickers.

answer Jun 13 by Abu Anam
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