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NCERT Solutions for Class 8 Civics - Market Around Us

Q1: In what ways is a hawker different from a shop owner?  
Ans: The following are the differences between hawkers and vendors:

Hawker
Shop Owner
Moves from one place to another, selling goods on the go, often on streets or public places.
Operates from a fixed location, typically within a building or a designated shop space.
Usually operates with a mobile setup, such as a cart or a portable stall.
Owns or rents a physical store or shop.
May have a limited inventory due to the portable nature of their business.
Can have a larger and more diverse inventory since they have a fixed space.
Might have flexible hours, operating during specific times or events.
Generally follows regular business hours.
May have lower overhead costs as they do not require a fixed location.
 Bears the cost of maintaining a physical store, including rent, utilities, and staff salaries.
Has the flexibility to reach different locations, covering a broader customer base.

Serves a local or specific community, and customers need to visit the shop's location.


Q2: Compare and contrast a weekly market and a shopping complex on the following-
NCERT Solutions for Class 8 Civics - Market Around UsAns: 
NCERT Solutions for Class 8 Civics - Market Around Us

Q3: Explain how a chain of markets is formed. What purpose does it serve?
Ans: Products originate from factories, farms, and households based on the type of business. However, consumers don't have to go to these places to make individual purchases, as the producers typically sell in larger quantities. Wholesale traders play a crucial role as intermediaries between producers and end consumers. They acquire goods in bulk from producers and then distribute them to retailers. The quantity of goods sold is determined by market demand. Ultimately, retailers sell these products to the final consumers.


Market ChainMarket Chain

Q4: ‘All persons have equal rights to visit any shop in a marketplace.’ Do you think it is true of shops with expensive products? Explain with examples.
Ans: Everyone can go to any store they want, but when it comes to stores selling expensive things, it's not the same for everyone. Here's why:

  1. Money Differences: People who have a lot of money can easily buy expensive things. They usually go to stores that sell fancy products. But for people with less money, these stores can be too expensive.

  2. Shopping Choices: People with different amounts of money often like to shop in different places. Richer people might go to fancy stores or big malls, while people with less money might go to cheaper stores or local markets.

  3. Prices Matter: Expensive stores can have high prices, which might be a problem for people with less money. So, they look for places where things are not too expensive.

Example: For example, rich people might go to big supermarkets for their groceries, even though prices are higher. But people with less money might buy their fruits and veggies from smaller shops or street sellers, where things are cheaper.


Q5: ‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.
Ans: The age of the internet has opened the proverbial door to new opportunities. Now one does not need a physical marketplace to buy and sell goods.
Examples:

  1. Phone Orders:

    • We can conveniently order necessary items by phone through cards and payment apps.
    • One can just place the order, and it will be delivered to their doorstep.
  2. Online Purchases:

    • Utilizing the internet, we can explore specific websites and place orders for desired products.
    • It applies to even local kirana stores, where with the help of a web or mobile app, one can place orders for groceries, and they will be delivered to them.
  3. Payment Options: Payment can be made through Internet banking or upon the delivery of goods.

Hence, modern technology allows us to engage in buying and selling seamlessly through methods such as phone orders and online purchases, providing convenient payment options for a hassle-free experience.

The document NCERT Solutions for Class 8 Civics - Market Around Us is a part of the Class 7 Course Social Studies (SST) Class 7.
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FAQs on NCERT Solutions for Class 8 Civics - Market Around Us

1. What are the different types of markets around us?
Ans. There are various types of markets around us such as physical markets, online markets, wholesale markets, retail markets, and black markets.
2. How do markets impact our daily lives?
Ans. Markets impact our daily lives by providing us with goods and services that we need for consumption, creating job opportunities, and facilitating economic growth.
3. What are the factors that determine the prices of products in a market?
Ans. The prices of products in a market are determined by factors such as demand and supply, competition, cost of production, government regulations, and consumer preferences.
4. How do markets contribute to the overall economy of a country?
Ans. Markets contribute to the overall economy of a country by promoting trade, boosting employment, generating revenue for the government through taxes, and encouraging innovation and entrepreneurship.
5. How can consumers make informed choices while shopping in markets?
Ans. Consumers can make informed choices while shopping in markets by comparing prices, reading product reviews, checking the quality of products, and being aware of their rights as consumers.
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