What is a market?

A place where people buy and sell goods and services.

Fill in the blank: The ______ system was used before the invention of money to exchange goods and services.

Barter

True or False: Markets only exist in physical forms like shops and bazaars.

False. Markets can also be online, using apps or websites.

Which of the following is NOT a characteristic of a market? 

A) Buyers 

B) Sellers 

C) Prices 

D) Only cash transactions

D) Only cash transactions

(we can also make online payments)

How do high prices affect buyer behaviour?

Fewer buyers will purchase, prompting sellers to lower the price.

True or False: International markets involve trade only within a single country.

False. International markets involve trade across different countries.

What role do wholesalers play in the market?

Wholesalers buy large quantities from producers and sell smaller quantities to retailers.

Which certification indicates that food is safe to eat?

FSSAI (Food Safety & Standards Authority of India)

What is the purpose of a distributor in the market?

To help wholesalers reach retailers, especially in challenging terrains.

Which mark certifies quality for agricultural products?

AGMARK

Riddle: I help you buy products that meet certain safety standards, and I am known by my initials. What am I?

ISI Mark

Fill in the blank: The government sets maximum prices for essentials to protect ______.

Buyers