All questions of Market Around Us for Class 7 Exam

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Kurnool is in Andhra Pradesh.

Introduction:
Kurnool is a city located in the state of Andhra Pradesh, India. It is the administrative headquarters of the Kurnool district and is situated on the banks of the Tungabhadra River. The city is known for its historical significance and cultural heritage.

Location:
Kurnool is located in the southern part of India. It lies at a latitude of 15.8281° N and a longitude of 78.0373° E. It is situated in the Rayalaseema region of Andhra Pradesh.

Andhra Pradesh:
Andhra Pradesh is a state in southern India. It is the seventh-largest state by area and the tenth-most populous state in the country. The state is known for its rich cultural heritage, historical landmarks, and diverse natural landscapes. Andhra Pradesh is divided into 13 districts, and Kurnool is one of them.

Kurnool District:
Kurnool district is located in the southwestern part of Andhra Pradesh. It is bordered by the districts of Mahabubnagar and Nalgonda in Telangana, as well as the districts of Anantapur, Kadapa, and Prakasam in Andhra Pradesh. The district has a total area of 17,658 square kilometers and is known for its historical sites, ancient temples, and natural attractions.

Significance of Kurnool:
Kurnool holds great significance in the history of Andhra Pradesh. It was the capital of Andhra State from 1953 to 1956 before the formation of Andhra Pradesh. The city has witnessed several historical events and is home to many ancient temples and monuments. Kurnool is also an important educational and commercial hub in the region.

Conclusion:
In conclusion, Kurnool is located in the state of Andhra Pradesh in southern India. It is a city with a rich historical and cultural heritage and is known for its significant contributions to the state's history and development.

Commercial paper issued with low interest rate is categorized as better credit rating.

Explanation:

Commercial paper is a short-term debt instrument issued by companies to meet their short-term financial requirements. These are unsecured and negotiable promissory notes issued by companies for a period of up to 364 days.

Commercial paper is rated by credit rating agencies based on the issuer's creditworthiness. The rating reflects the issuer's ability to repay the debt on time and the risk associated with the investment. The rating agencies assign a rating based on the issuer's financial strength, business profile, and management quality.

The interest rate on commercial paper is determined by the rating assigned by the credit rating agency. The higher the rating, the lower the interest rate, and vice versa. Hence, commercial paper issued with a low-interest rate is considered to have a better credit rating.

Conclusion:

In conclusion, commercial paper issued with a low-interest rate is categorized as a better credit rating. The credit rating reflects the issuer's ability to repay the debt on time and the risk associated with the investment. Therefore, investors should consider the credit rating assigned by the credit rating agency before investing in commercial paper.

Branded

Understanding the Marketing Chain
The marketing chain is a series of steps that products go through from the producer to the end consumer. The correct sequence is crucial for efficient distribution and sales.
Correct Sequence: Producer-Agents-Wholesaler-Retailer
- Producer: This is the entity that creates the product. Producers can be manufacturers or farmers who generate goods that meet consumer needs.
- Agents: These are intermediaries who assist producers in selling their products. Agents often have established relationships with wholesalers and retailers, helping to facilitate the sale without taking ownership of the goods.
- Wholesalers: Once the agents have facilitated the sale, the products move to wholesalers. Wholesalers buy in bulk from producers or agents and sell to retailers. They play a crucial role in storing large quantities of goods and ensuring they are available for retail.
- Retailers: Finally, retailers purchase products from wholesalers and sell them directly to consumers. They are the last link in the marketing chain and provide the final touchpoint for consumers to access products.
Importance of Each Step
- Each step in the marketing chain is vital for ensuring that products move efficiently from creation to consumption.
- This sequence allows for specialization, where each party focuses on their strengths, maximizing efficiency and effectiveness in the market.
Conclusion
Understanding the marketing chain and its correct sequence helps in comprehending how products reach consumers. The sequence of Producer-Agents-Wholesaler-Retailer ensures that all parties work collaboratively to meet market demands.

Traders act as intermediaries in the chain of markets, buying goods in bulk from producers and distributing them to retailers or consumers.

Understanding Weekly Market Sellers
Weekly markets play a crucial role in local economies, often serving as essential platforms for trade and commerce. The sellers in these markets primarily consist of small-scale traders.
Characteristics of Weekly Market Sellers
- Small Traders: These individuals typically operate on a small scale, selling goods directly to consumers. They often include:
- Local farmers selling fresh produce
- Artisans offering handmade crafts
- Street vendors providing ready-to-eat food items
- Accessibility: Small traders are more likely to participate in weekly markets due to lower entry barriers. They do not require large amounts of capital or extensive resources to set up stalls.
- Variety of Products: Weekly markets feature a diverse range of products that cater to local demand. Small traders can quickly adapt their offerings based on changing consumer preferences.
Why Not Larger Sellers or Industrialists?
- Large Sellers: While they may participate occasionally, large sellers typically operate through established retail channels and may not find the weekly market format conducive to their business models.
- Industrialists: These entities usually deal with bulk production and distribution rather than direct sales to consumers. Their operations often involve logistics and supply chains that are not suited for the weekly market setup.
Conclusion
In summary, the correct answer is option 'C' (Small traders) because they embody the essence of weekly markets through their direct engagement with the community, accessibility, and adaptability to local consumer needs.

Explanation:

Weekly markets are usually temporary markets that are set up on a particular day of the week in a specific location. These markets are popular in many countries because they offer a variety of goods at affordable prices. The following are the items that are typically found in a weekly market:

Groceries: Weekly markets usually sell fresh fruits, vegetables, spices, and other food items.

Non-branded clothes: These markets are known for selling non-branded clothes that are affordable.

Vegetables: Weekly markets are a great place to buy fresh vegetables.

However, branded clothes are not usually found in weekly markets. These markets are known for selling non-branded clothes, and branded clothes are typically sold in stores or malls. Overall, weekly markets are a great place to buy affordable groceries and non-branded clothes.

To attract customers, weekly market traders lower their prices or negotiate with buyers, ensuring competitive pricing.

- Malls and shopping complexes offer a wide range of products to meet various consumer needs.
- They typically feature branded goods from well-known companies, attracting customers looking for quality and prestige.
- Non-branded goods are also available, providing affordable alternatives for budget-conscious shoppers.
- Categories include clothing, electronics, home goods, beauty products, and food items, making malls a one-stop shopping destination.
- This diverse selection enhances the shopping experience and caters to different preferences and budgets.

Prices in malls are non-negotiable as they sell branded goods with fixed costs, unlike in weekly markets where bargaining is common.

Wholesale traders purchase large quantities of goods from factories or producers and supply them to retailers for sale to consumers.

Hawkers buy goods from wholesale traders who act as intermediaries, ensuring the flow of products from producers to small sellers.

Malls are fixed establishments with permanent shops, while weekly markets are temporary setups with no fixed locations.

Malls are modern, multi-storeyed buildings that often feature air conditioning and sell higher-priced branded goods.

Online shopping is convenient as it enables customers to purchase goods from home without physically visiting stores.

Branded goods are priced higher due to production, marketing, and distribution costs, making them unaffordable for many.