Market Around Us Class 7 PPT

 Page 2


A market is one of many varieties of systems, institutions,
procedures, social relations and infrastructures whereby parties
engage in exchange. While parties may exchange goods and services
by barter, most markets rely on sellers offering their goods or
services (including labor) in exchange for money from buyers. It
can be said that a market is the process in which the prices of
goods and services are established.
Markets vary in form, scale (volume and geographic reach),
location, and types of participants, as well as the types of goods
and services traded. There are many kinds of markets that we may
visit for our everyday needs: these can include shops, ha wk er’ s stall
in our neighbourhood, a weekly market, a large shopping complex,
perhaps even a mall.
Page 3


A market is one of many varieties of systems, institutions,
procedures, social relations and infrastructures whereby parties
engage in exchange. While parties may exchange goods and services
by barter, most markets rely on sellers offering their goods or
services (including labor) in exchange for money from buyers. It
can be said that a market is the process in which the prices of
goods and services are established.
Markets vary in form, scale (volume and geographic reach),
location, and types of participants, as well as the types of goods
and services traded. There are many kinds of markets that we may
visit for our everyday needs: these can include shops, ha wk er’ s stall
in our neighbourhood, a weekly market, a large shopping complex,
perhaps even a mall.
Page 4


A market is one of many varieties of systems, institutions,
procedures, social relations and infrastructures whereby parties
engage in exchange. While parties may exchange goods and services
by barter, most markets rely on sellers offering their goods or
services (including labor) in exchange for money from buyers. It
can be said that a market is the process in which the prices of
goods and services are established.
Markets vary in form, scale (volume and geographic reach),
location, and types of participants, as well as the types of goods
and services traded. There are many kinds of markets that we may
visit for our everyday needs: these can include shops, ha wk er’ s stall
in our neighbourhood, a weekly market, a large shopping complex,
perhaps even a mall.
A weekly market is so called
because it is held on a
specific day of the week.
Weekly markets do not have
permanent shops. Traders
set up shops for the day and
then close them up in the
evening. Ten they mat set up
at a different place the next
day. There are thousands of
such markets in India.
People come here for
everyday requirements.
Page 5


A market is one of many varieties of systems, institutions,
procedures, social relations and infrastructures whereby parties
engage in exchange. While parties may exchange goods and services
by barter, most markets rely on sellers offering their goods or
services (including labor) in exchange for money from buyers. It
can be said that a market is the process in which the prices of
goods and services are established.
Markets vary in form, scale (volume and geographic reach),
location, and types of participants, as well as the types of goods
and services traded. There are many kinds of markets that we may
visit for our everyday needs: these can include shops, ha wk er’ s stall
in our neighbourhood, a weekly market, a large shopping complex,
perhaps even a mall.
A weekly market is so called
because it is held on a
specific day of the week.
Weekly markets do not have
permanent shops. Traders
set up shops for the day and
then close them up in the
evening. Ten they mat set up
at a different place the next
day. There are thousands of
such markets in India.
People come here for
everyday requirements.
? Availability of many things
Most of the things we need are available at one place.
Whether you want vegetables, groceries or cloth items,
utensils – all of them can be found here. I t’ s a place
where the people have a choice and a variety of goods.
? Cheaper rates
Many things in weekly markets are available at cheaper
rates. This is because when shops are in permanent
buildings, they incur a lot of expenditure – they have to
pay rent, electricity, fees, tax etc. But in such markets,
there are no such kind of problems.