Welcome to the Chapter 8 - Markets Around Us, Class 7 Social Science - Social and Political Life (Civics) NCERT Solutions page. Here, we provide detailed question answers for Chapter 8 - Markets Around Us. The page is designed to help students gain a thorough understanding of the concepts related to natural resources, their classification, and sustainable development.
Our solutions explain each answer in a simple and comprehensive way, making it easier for students to grasp key topics Markets Around Us and excel in their exams. By going through these Markets Around Us question answers, you can strengthen your foundation and improve your performance in Class 7 Social Science - Social and Political Life (Civics). Whether you’re revising or preparing for tests, this chapter-wise guide will serve as an invaluable resource.
Hawkers do not own permanent shops whereas shop owners have their permanent shops. They usually sell items such as vegetables and fruits. They have lesser income levels than that of shop owners. Even they have to bear less expenses (like rent electricity, wages to workers, etc.) than that of shop owners.
|
Market |
Kinds of goods sold |
Price of goods |
Sellers |
Buyers |
|
Weekly markets |
Unbranded goods are available |
Reasonable |
Earn less |
Cannot afford the cheapest goods too |
|
Shopping complex |
Both branded and unbranded but mainly branded |
Costly |
Rich and earns well |
Can afford everything |
Goods are made in factories, as well as in farms and in homes. But we need not to move to factories or farms to purchase goods of our need, because they don't sell small quantities. The wholesale traders are the people who come in between the producer and the final consumer. They use to purchase goods in bulk. Then they sell them to the retailers, thus finally to the consumers. From the above explanation we can conclude that a chain is formed from factories to final consumers, which is known as chain of markets. It serves a goal. It continues the flow of money. It makes various items of our daily use easily accessible. It also increases society coordination.
It is correct that all persons have equal rights to visit any shop in the market place. It's not true for shops with costlier products. For which following reasons are stated below: People with higher incomes can buy costlier products. Hence, these people go to the shops with luxury goods and not the people with lower income. The low-income people purchase goods from shops and weekly markets, as they are available at lower rates.Examples: People with high income purchases green vegetables from multiplexes while poor people purchase green vegetables from vegetable sellers.
In following manner, we can do buying and selling without going to a market place.
Examples: We can order goods from the telephone and get their delivery. We can also visit the associated website over internet and order the products. We can pay through internet banking via various apps or in the cash on delivery of goods.