NCERT CBSC Class 7 Questions & Answers | VII STD CIVICS CLASSOWORK MARKETS AROUND US

 VII STD CIVICS CLASSWORK Questions & Answers MARKETS AROUND US.

I FILL IN THE BLANKS :

 

1. Weekly market closes in the evening.
2. In a weekly market, things are available at one place.
3. We can buy things at any time, in the retail shops which are in our neighbourhood.
4. Malls have branded and non-branded products.
5. Buying and selling take place in different ways.

II SHORT ANSWERS :

 
1. What is weekly market?

A weekly market is so called because it is held on a specific day of the week. Weekly markets do not have permanent shops. Traders set up shops for the day and then close them in the evening. Then they may set up at a different place the next day.

2. Why are weekly markets cheaper than other markets?

 Most of the things in weekly markets are available at cheaper rates. This is because the shops in weekly markets do not have to pay rent, electricity bill tax to the government, wages to their workers etc. There is a competition among shops because a large number of them sell the same goods. So no trader can charge a higher price.

3 Write a short note on shopping complexes and malls.

 Shopping complexes have many shops. In metro’s we have large multi-storeyed air conditioned buildings with a variety of shops on different floors called malls. In these shops both branded and non-branded goods are sold. Branded goods are very costly.

4 Describe the chain of markets.

1. The people in between the producer and the final consumer are the traders. 
2. The whole sale traders first buy goods in large quantities. 
3. In a whole sale market, buying and selling takes place between traders. The whole sale traders sell it to retailers. 
4. The retailer sells goods to the consumers.

III ANSWER IN DETAIL:

1 Explain markets and equality.

• There is a great deal of inequality in the market.
• A shop owner in a weekly market is a small trader with little money to run the shop
• Whereas a shop owner in a shopping complex or a mall has a lot of money to run the shop.
• A weekly market trader earns little compared to the profit of a regular shop owner in a shopping complex.
• There is a great deal of inequality among buyers also.
• Many buyers are not able to afford the cheapest of goods while others are busy shopping in malls.