NCERT Class 7 CIVICS Solutions: Markets Around Us Chapter 8– Part 5

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

Long Answer Type Questions

Question 1:

Do you see equality in the market? If not, why not? Explain with examples.

Or

Write in brief on ‘Market and Equality’.

Equality and equity

Equality and Equity

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Answer:

We do not see equality in the market. Big and powerful business persons earn huge profits while small traders earn very little. For example, the shop owners in a weekly market and those in a shopping complex are two different people. One is a small trader who has little money to run the shop. Whereas the other has a lot of money to spend on the shop. The earning of these two people is also unequal. The weekly market trader earn little profit whereas the shopping complex owner gains huge income.

Not only the shop owners are different people, but also the buyers. In the market we see different types of buyers There are several buyers who Eire not able to afford even the cheapest of goods white others are busy shopping different luxurious items in malls.

Thus, we see no equality in the market place.