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Markets Everywhere Video Lecture - Class 7
FAQs on Markets Everywhere Video Lecture - Class 7
| 1. What is the significance of markets in our daily lives? |  |
Ans. Markets play a crucial role in our daily lives as they provide a platform for buying and selling goods and services. They enable us to meet our needs and desires by offering a variety of products and choices.
| 2. How do markets contribute to the economy? | |
Ans. Markets contribute to the economy by stimulating economic activity through the exchange of goods and services. They create employment opportunities, generate income, and contribute to the overall growth and development of the economy.
| 3. What are the different types of markets? | |
Ans. There are various types of markets, including physical markets (such as local stores and shopping malls), online markets (e-commerce platforms), financial markets (stock exchanges and bond markets), and commodity markets (where raw materials and agricultural products are traded).
| 4. How do markets benefit consumers? | |
Ans. Markets benefit consumers by providing them with choices, competitive prices, and quality products. Consumers can compare different options, negotiate prices, and make informed decisions based on their preferences and budget.
| 5. How can markets be regulated to ensure fair competition? | |
Ans. Markets can be regulated to ensure fair competition through various measures, such as implementing antitrust laws, enforcing consumer protection regulations, promoting transparency, and monitoring market practices. Governments and regulatory authorities play a crucial role in setting and enforcing these regulations to maintain a level playing field for all market participants.
Text Transcript from Video
chain of markets the goods like
vegetables and fruits are produced at
farms while others like shoes leather
goods clothes medicines etc
are produced in factories
the customer does not go to the
factories or farms to buy goods he buys
these Goods either from the weekly
market
neighbourhood shops or from the shopping
complexes
the question arises how do the traders
procure the items that they sell to the
customers the answer to this lies in the
chain of markets that exist everywhere
let us take an example of a vegetable
the vegetable is grown in the field from
the field it is transported to the
wholesale market
from the wholesale market it is
purchased by the hawkers from the
hawkers
we buy the vegetables
so one can see the steps through which
the product goes before landing on to us
you
vegetables and fruits are produced at
farms while others like shoes leather
goods clothes medicines etc
are produced in factories
the customer does not go to the
factories or farms to buy goods he buys
these Goods either from the weekly
market
neighbourhood shops or from the shopping
complexes
the question arises how do the traders
procure the items that they sell to the
customers the answer to this lies in the
chain of markets that exist everywhere
let us take an example of a vegetable
the vegetable is grown in the field from
the field it is transported to the
wholesale market
from the wholesale market it is
purchased by the hawkers from the
hawkers
we buy the vegetables
so one can see the steps through which
the product goes before landing on to us
you
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Nov 23, 2024 Last updated |
Markets Everywhere for Class 72024 is part of Class 7 preparation. The notes and questions for Markets Everywhere
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