Markets Around Us Extra Questions Chapter 7 Class 7 Civics
Chapter 7 Markets Around Us Extra Questions for Class 7 Civics is very helpful in the preparation of examinations and scoring good marks. Class 7 Civics Extra Questions is useful in understanding the important points inside the chapter properly.
Chapter 7 Markets Around Us Very Short Answer Questions (VSAQs):
1. The shopping malls mostly sells ______ items.
Answer
branded.
2. People who buy and sell thing in bulk are called ______.
Answer
Wholesale traders.
3. Neighbourhood markets often give goods to their regular customers on ____________.
Answer
Credit.
4. Why is a weekly market called so?
Answer
A weekly market is called so because it is held at a certain place on a specific day of the week.
5. From where do you think shop owners procure their goods?
Answer
They procure their goods from the wholesale trader who buys goods in large quantities.
6. Who is a retailer?
Answer
Traders who sell good to the consumers are called retailers.
7. Why branded goods are expensive as compared to non-branded goods?
Answer
Branded goods are often promoted by advertising, which costs a lot and thus are expensive.
8. What is meant by the final product?
Answer
‘Find product’ refers to a manufactured product, made at the end of a production process.
9. What is the importance of chain of market?
Answer
It is because of chain of market that goods produced at one place reaches people everywhere.
10. What is chain of market?
Answer
A series of markets that are connected like links forms chain of market. Products passes from one market to another.
Chapter 7 Markets Around Us Short Answer Questions (SAQs):
1. Differentiate between shopping complexes and malls.
Answer
Markets mostly in urban areas having many shops are called shopping complexes. In many urban areas there are large multi-storeyed air conditioned building with shops on different floors, knows as malls.
2. Differentiate between permanent and temporary shops.
Answer
Permanent shops contains goods that are expensive in comparison to goods of temporary shops. Permanent shops store the things they sell in their shops but temporary shops owner store goods to be sold at their home.
3. Why Neighbourhood market is preferred by the customers?
Answer
Neighbourhood markets are near our house, one can go there at any day of the week. The buyers and sellers know each other and these shops also provide goods on credits.
4. Why is wholesale trader necessary?
Answer
Goods are produced in factories, on farms and at homes. However, we don’t buy directly from the factory or from the farm. Nor would the producers be entered in selling us small quantities. It is at this juncture the trader comes in to help us. It is he who plays his role in between the producer and the final consumer. He first buys goods in large quantities and then sells them to retailer who finally sells them to the consumer. Thus, with the help of wholesale traders that goods reach faraway places.
5. Why weekly markets are cheaper than permanent shops?
Answer
Permanent shops have to incur a lot of expenditure like shop rent, electricity, fees to the government etc., but a weekly market shop owner don’t have to bear these expenses. Permanent shops holder also have to pay wages to their workers but weekly market shop owner have helpers from their family members, and thus they don’t need to hire workers. And are cheaper than permanent shops.
6. What is a chain of market? Do you think that everyone gains equally in the market?
Answer
A series of markets that are connected like links forms chain of market. Products passes from one market to another. Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Everyone do not get equally in a market. Individual answer.
7. Why is bargaining possible in weekly markets?
Answer
Weekly markets have a large number of shops selling the same goods which means there is a competition among them. If some traders want to charge a high price, people would move to another shop where the same thing may be available at cheaper rates, or where the buyers can bargain and bring the price down.
8. Establish relationship between the market and the inequality?
Answer
Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Thus it forms an inequality amongst people.
Chapter 7 Markets Around Us Long Answer Questions (LAQs):
1. Which factories affect people's choice to different types of markets?
Answer
People need different types of markets for different types of goods and services. This choice of theirs depend on several factors which are given below:
• Availability: People usually want to visit those markets where they are sure they will get things of their choice. If a particular good/service is not available in a particular shop they move to another.
• Convenience: People find it convenient to visit those markets which are closer to their homes or on the way of their offices/workplaces. They do not usually visit faraway markets.
• Affordability: It is an important factor. People usually visit those shops which offer goods/services on affordable rates. They don’t go to those shops that sell things too expensive to suit their pockets.
• Credit/Debit cards: Many people have started using credit/debit cards while making purchases. Having a credit/debit card in their pockets they want to enter these shops which offer these facilities.
• Quality: People know which shops are selling quality goods/services. Hence, they visit only those shops where they can get a product of good quality. They avoid to visit those shops which make false claims.
2. Give a brief account of different types of markets with their special features.
Answer
• A weekly market which 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 up in the evening. They sell a variety of things at cheaper rates.
• There are many shops that sell goods and services in our neighbourhoods. We buy milk from the dairy, groceries from departmental stores, stationery, eatables or medicines from other shops. These neighbourhood shops are very useful. They are near our home and we can go there on any day of the
week.
• There are other markets in the urban area that have many shops, popularly called shopping complexes.
• These days, in many urban areas, we have large multi- storeyed air conditioned buildings with shops on different floors, known as malls.
• In these urban markets, we get both branded and non-branded goods. Theshop owners of shopping complexes and malls make huge profits.