Markets Around Us Class 7 Worksheet Civics Chapter 7

Q1: Multiple Choice Questions (MCQs)

(i) What is the main role of intermediaries in modern markets?
(a) To produce goods
(b) To connect producers and consumers
(c) To set market prices
(d) To eliminate competition

(ii) Which of the following is NOT a characteristic of wholesalers?
(a) Buy in large quantities
(b) Sell goods directly to consumers
(c) May provide goods on credit
(d) Deal in a limited range of items

(iii) What is the primary purpose of weekly markets?
(a) To sell goods at high prices
(b) To cater to basic daily requirements
(c) To promote luxury items
(d) To provide long-term credit to consumers

(iv) What do supermarkets offer that makes them attractive to consumers?
(a) Limited product variety
(b) Lower prices due to small scale
(c) A wide selection of products
(d) High prices for all goods

(v) What is the primary advantage of online retailers like Flipkart and Amazon?
(a) High overhead costs
(b) Lack of convenience
(c) Lower prices due to overhead savings
(d) Limited product variety

Q2:  Fill in the Blanks

(i) Markets serve as the connecting link between _________ and __________.
(ii) People who serve as intermediaries between producers and consumers are called _______ or _______.
(iii) When people exchange goods or services for other goods or services, it is called ___________.
(iv) Big retail shops occasionally offer discounts to customers for the purpose of the clearance of _____________.
(v)  _________ stores sell a wide assortment of goods of the same category.

Q3: Match the Column

Q4: True or False

(i) Wholesalers sell goods directly to consumers.
(ii) Neighbourhood markets may offer home delivery services to regular customers.
(iii) Supermarkets source goods in small quantities, leading to higher prices.
(iv) Chain stores manage multiple branches independently.
(v) Online selling does not pose a threat to conventional shops.