NCERT Class 7 CIVICS Solutions: Markets Around Us Chapter 8– Part 1

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NCERT Class 7 Political Science / Polity / Civics Chapter 8: Markets Around Us | English | CBSE

Question 1:

In what ways is hawker different from a shop owner?

Answer:

The differences are as follows:

Hawker vs fixed shop

Sr. No.

Hawker

Shop owner

1.

Does not have a permanent shop.

Has a permanent shop.

2.

Has to move from place to place to sell his products.

Does not have to move from place to place. People come to the shop.

3.

Does not keep branded products.

Has branded and non-branded products.

4.

Sells products at a cheaper rate.

Sells products at a costlier price.

5.

Does not spend money on the shop as he keeps on moving around.

Has to spend money on the maintenance of the shop, including paying electricity bills, cleaning etc.

Question 2:

Compare and contrast a weekly market and a shopping complex on the following

Place of shopping and attributes question

Market

Kinds of goods sold

Prices of goods

Sellers

Buyers

Weekly market

Shopping complex

Answer:

Place of shopping and attributes

Market

Kinds of goods sold

Prices of goods

Sellers

Buyers

Weekly market

Cheap products, inferior quality, non-branded items

Low or cheaper

Small traders

People from villages and small towns, low-income people or groups, labourers

Shopping complex

Expensive branded goods; good quality, branded items

High or costly

Big traders or companies

Rich and upper middle class people from big cities, high-income people or groups

Question 3:

Explain how a chain of markets is formed. What purpose does it serve?

Chain of markets

Chain of Markets

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Answer:

A chain of markets is formed in the following manner:

● Goods are produced in factories.

● Wholesalers then buy goods from factories in bulk.

● The wholesalers then sell goods to retailers and hawkers.

● Customers then buy goods from a retailer or a hawker.

Thus, from factories to consumers, a chain of markets is formed.

The purposes served by the chain of markets are

● Products can be bought from nearby places.

● Goods are brought from far off places to serve the needs of consumers.

● Factories do not require searching for their customers.

● Factories need to sell their products in lower quantities.

● Several people are benefitted because of the chain of markets.