Markets Around Us - Class 7 Social Science - Chapter 7 - Notes, NCERT Solutions & Extra Questions
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Back Questions - Markets Around Us | Social and Political Life | Social Science | Class 7
In what ways is a hawker different from a shop owner?
Mobility: A hawker is mobile, moving from place to place to sell goods, unlike a shop owner who operates from a fixed location.
Overhead Costs: Hawkers have lower overhead costs with no need for rent or electricity, in contrast to shop owners who have to bear these expenses.
Family-run: Many hawkers are helped by family members, reducing the need for hired workers, whereas shop owners may need to employ staff.
Bargaining: Bargaining is more prevalent in transactions with hawkers than with shop owners who have fixed prices in permanent establishments.
Compare and contrast a weekly market and a shopping complex on the following:
Aspect | Weekly Market | Shopping Complex |
---|---|---|
Market | ||
Kind of Goods Sold | ||
Prices of Goods | ||
Sellers | ||
Buyers |
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Explain how a chain of markets is formed. What purpose does it serve?
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‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true of shops with expensive products? Explain with examples.
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‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.
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What are the different types of markets mentioned, and what can one typically purchase from them?
There are several types of markets, including:
- Weekly markets: These have no permanent shops and offer various items like clothes and groceries at cheaper rates due to low overhead costs. Goods can be purchased through bargaining.
- Neighborhood shops: Permanent shops close to residences provide daily necessities like milk, groceries, and medicine, often allowing purchases on credit.
- Shopping complexes and malls: Multi-storeyed, air-conditioned buildings selling both branded and non-branded goods at higher prices due to brand value and quality claims.
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What role does a wholesaler like Aftab play in the market chain?
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Name any two types of teeth. What is the use of teeth? [2 MARKS]
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Ask Chatterbot AINotes - Markets Around Us | Class 7 Social and Political Life | Social Science
In-Depth Guide to "Markets Around Us": Class 7 Notes
Understanding the various types of markets around us is essential, not just for shopping but also for comprehending economic dynamics and social interactions. Let's explore the intricate world of markets as introduced in the Class 7 chapter "Markets Around Us".
Different Types of Markets
Weekly Markets
A weekly market is held on a specific day of the week. You can find all sorts of goods like vegetables, clothes, utensils, and groceries here. These markets don't have permanent shops. Instead, traders set up their stalls for the day and...
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