NCERT Solutions class-7 Political Science Markets

Class –VII Political Science

unit five markets

Question 1.In what ways is a hawker different from a shop owner?

Question 2.Compare and contrast a weekly market and a shopping

complex on the following:

MarketKind of goods soldPrices of goodsSellersBuyers

Weekly market Shopping complex

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

Market	Kind of goods sold	Prices of goods	Sellers	Buyers
Weekly market
Shopping complex

Answer

Market	Kind of goods sold	Prices of goods	Sellers	Buyers
Weekly market	Vegetables, groceries, cheaper small people	cheaper	small traders	people living nearby
	market cloth items, utensils, etc.
Shopping complex	branded and non- branded goods	expensive	big and rich traders	rich people

Question 3.Explain how a chain of markets is formed. What purpose

does it serve?

Answer

(i) A chain of markets is formed starting from wholesale markets to retail shop owners who sell directly to the consumers. In between wholesale markets and retailers there are medium and big traders. For example, a hawker or retailer purchases plastic items from a wholesale-trader in the town. The town wholesaler, in turn, buys from a bigger wholesale trader in the city. The city wholesale trader buys a large quantity of plastic items directly from the factory and stores them in their godowns. Thus, a chain of market is formed.

(ii) A chain of market serves the purpose of producer and consumers. Because neither a producer can sell a small quantity of goods to an individual consumer nor an individual consumer can buy large quantity of goods from producers. So, wholesale traders, retailers, etc. are required to link the producers and consumers.

Question 4.‘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.

Answer : All persons have equal rights to visit any shop of their choice in a marketplace. It does not matter whether the shop is expensive with expensive items or an ordinary shop selling cheap items. We are free to visit any shop and see different products and buy if the price suits our pockets. We can explain this point through an example.

Kavita and Sujata went to Anzal Mall. They entered a shop that was selling branded ready-made clothes. They looked at some of the dresses and then looked at the price tag. None of them was less than Rs. 2000, almost five times the weekly market price. The price did not suit their pockets. Hence they went to another shop.

Question 5.‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.

Answer : ‘Buying and selling can take place without going to a market Place,’ This statement is true at present scenario of new trend in marketing.

Technology has changed the traditional concept of marketing by manual presence in the marketing to buy and sell anything. Now-a-days, it is not necessary to go to the market to purchase goods. Anyone can place orders for a variety of things through the phone or the Internet and the goods are delivered at the home or place where needed. In clinics and nursing homes we see now-a-days, sales representatives waiting for doctors or taking orders at shops for different goods or medicine. Thus buying and selling takes place in different ways, not necessarily through shops in the market.