Markets Around us - Class 7 Social Science - Chapter 22 - Notes, NCERT Solutions & Extra Questions
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Back Questions - Markets Around us | Social Science Success | Social Science | Class 7
Who is the last link in the chain of markets?
(c) Retailer
(d) Buyer
(a) Wholesaler
(b) Trader
The last link in the chain of markets as described in the chapter is the retailer. The retailer is the one who finally sells goods to the consumer.
Correct answer: (c) Retailer
A place where buyers exchange money for goods is called
(a) Market
(b) Field
(c) Agriculture
(d) Vendor
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Choose an incorrect statement.
(a) Things sold in a weekly market are cheaper.
(b) Things are cheaper because shops are temporarily set up and owners do not pay rent.
(c) Shop owners do not employ permanent salespersons and store things at home.
(d) Things sold in a weekly market are costly.
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A multi-storeyed building housing a large number and a variety of shops including a cinema theatre and restaurants is called
(a) Shop
(b) Shopping mall
(c) Market complex
(d) None of these
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Most of the customers in a shopping mall are
(a) Poor
(b) Rich
(c) Downtrodden
(d) None of these
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The _______________ buy goods from wholesale market, and the _______________ buy from retailers.
(a) retailers, consumers (b) consumers, wholesellers (c) consumers, retailers (d) consumers, consumers 7. A neighbourhood shopkeeper maintains a register or account of _______________.
(a) retailers
(b) wholesellers
(c) customers
(d) goods
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Special markets having hundreds of shops in rows, are often called
a) multiplex
(b) shopping complexes
(c) industries
(d) none of these
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What do we use to call multi-storeyed buildings in cities housing a large number of shops on different floor
(a) shopping complexes
(b) industries
(c) multiplexes
(d) malls
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Non-branded goods sold in ordinary shops are _______________ and within the reach of a large section consumers.
(a) cheaper
(b) costlier
(c) defective
(d) none of these
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Wholesalers sell the product to _______________ who further sell the goods to retailers.
(a) manufacturer
(b) consumers
(c) traders
(d) shopkeepers
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Match the following columns:
Column I | Column II |
---|---|
Wholesaler | Coods are stored here |
Retailer | People between producer and consumer |
Trader | Buying and selling in large quantities |
Godown | Selling directly to consumer |
Choose the correct answer from the option given below:
(a) I-2, II-4, III-1, IV-3
(b) I-3, II-4, III-2, IV-1
(c) I-1, II-2, III-4, IV-3
(d) $1-3$, II-4, III-2, IV-1
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What is a shopping complex?
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Which market is likely to be visited by a wage labourer?
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Describe the items sold in weekly markets.
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Name three wholesale markets of Delhi.
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Who is at the end of a market chain?
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Who is a manufacturer?
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Who is a wholesaler? How is he different from a retailer?
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Compare and contrast a weekly market and a shopping complex.
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Explain how a chain of markets is formed.
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'Buying and selling can take place without going to a market place.' Explain.
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'All persons have equal rights to visit any shop in a market place'. Do you agree? Explain.
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'There is a whole lot of inequality both among buyers and sellers.' Explain.
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Describe various types of markets.
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'Certain markets are invisible.' Comment.
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Notes - Markets Around us | Class 7 Social Science Success | Social Science
Markets Around Us: Comprehensive Class 7 Notes
Introduction to Markets
Markets are places where traders set up shops and buyers exchange money for goods. There are various types of markets where one buys goods according to one's needs. Generally, there are certain areas marked for selling various items like fruits, vegetables, pulses, jewellery, hardware, etc. Goods are produced or manufactured at a different place and then they are transported to the wholesale market to be sold. The retailers buy goods from them, and the consumers buy from retailers.
Weekly Markets
What is...
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