NCERT Textbook - Market Around Us Class 7 Notes | EduRev

Social Studies (SST) Class 7

UPSC : NCERT Textbook - Market Around Us Class 7 Notes | EduRev

 Page 1


80
UNIT
FIVE
2020-21
Page 2


80
UNIT
FIVE
2020-21
81
Markets
Teacher’s note
These two chapters focus on aspects of
life and commercial cycles associated with
markets. While some of these processes
may be visible and, therefore, easily
observable, there are also others that are
relatively unfamiliar.
Chapter 7 discusses ‘Markets Around
Us’. At one level, we study different market
sites: a weekly market, neighbourhood
shops, a shopping complex, etc. At another
level, we explore the intricate question,
‘how do goods reach these markets?’ We
examine how a chain of markets operates
and the role of wholesale markets within
this, through the case study of a wholesale
vegetable market. We usually associate
‘market’ with marketplaces, but buying and
selling takes place in diverse ways and the
chapter discusses how all of this falls
within a larger understanding of markets.
Chapter 8 looks at how markets offer
people different opportunities. This is done
through the ‘story of a shirt’, and the chain
of markets involved in the process. Together
with understanding each step of the
manufacture and circulation of a shirt, we
realise that some people stand to gain in
the market transaction whereas others do
not gain as much, or none at all. The
opportunities are highly unequal. Ways do
exist, such as those of cooperative
marketing, which can provide a better
return to the producers. However, we need
to find many more viable avenues for
equitable distribution.
These chapters offer an opportunity of
bringing in the experience of local markets
for discussion in the classroom. A visit to
a wholesale market would be of interest,
and would allow the learner to find out the
profit margins and details of daily earnings
so that those inequalities can be directly
examined. The experiences of markets are
varied and also quite rich. Hence, one
should allocate time for some questions,
not addressed in the text, which students
may wish to discuss.
81
2020-21
Page 3


80
UNIT
FIVE
2020-21
81
Markets
Teacher’s note
These two chapters focus on aspects of
life and commercial cycles associated with
markets. While some of these processes
may be visible and, therefore, easily
observable, there are also others that are
relatively unfamiliar.
Chapter 7 discusses ‘Markets Around
Us’. At one level, we study different market
sites: a weekly market, neighbourhood
shops, a shopping complex, etc. At another
level, we explore the intricate question,
‘how do goods reach these markets?’ We
examine how a chain of markets operates
and the role of wholesale markets within
this, through the case study of a wholesale
vegetable market. We usually associate
‘market’ with marketplaces, but buying and
selling takes place in diverse ways and the
chapter discusses how all of this falls
within a larger understanding of markets.
Chapter 8 looks at how markets offer
people different opportunities. This is done
through the ‘story of a shirt’, and the chain
of markets involved in the process. Together
with understanding each step of the
manufacture and circulation of a shirt, we
realise that some people stand to gain in
the market transaction whereas others do
not gain as much, or none at all. The
opportunities are highly unequal. Ways do
exist, such as those of cooperative
marketing, which can provide a better
return to the producers. However, we need
to find many more viable avenues for
equitable distribution.
These chapters offer an opportunity of
bringing in the experience of local markets
for discussion in the classroom. A visit to
a wholesale market would be of interest,
and would allow the learner to find out the
profit margins and details of daily earnings
so that those inequalities can be directly
examined. The experiences of markets are
varied and also quite rich. Hence, one
should allocate time for some questions,
not addressed in the text, which students
may wish to discuss.
81
2020-21
Markets Around Us
We go to the market to buy many things – vegetables, soap, toothpaste, masala,
bread, rice, dal, clothes, notebooks, biscuits, etc. If we make a list of the goods
that we purchase, it would be really long. There are many kinds of markets that
we may visit for our everyday needs: these can include shops, hawker’s stalls in
our neighbourhood, a weekly market, a large shopping complex, perhaps even a
mall. In this chapter, we look at some of these markets and try to understand
how the goods that are sold there reach buyers, who these buyers are, who these
sellers are, and the sorts of problems they face.
7
CHAPTER
2020-21
Page 4


80
UNIT
FIVE
2020-21
81
Markets
Teacher’s note
These two chapters focus on aspects of
life and commercial cycles associated with
markets. While some of these processes
may be visible and, therefore, easily
observable, there are also others that are
relatively unfamiliar.
Chapter 7 discusses ‘Markets Around
Us’. At one level, we study different market
sites: a weekly market, neighbourhood
shops, a shopping complex, etc. At another
level, we explore the intricate question,
‘how do goods reach these markets?’ We
examine how a chain of markets operates
and the role of wholesale markets within
this, through the case study of a wholesale
vegetable market. We usually associate
‘market’ with marketplaces, but buying and
selling takes place in diverse ways and the
chapter discusses how all of this falls
within a larger understanding of markets.
Chapter 8 looks at how markets offer
people different opportunities. This is done
through the ‘story of a shirt’, and the chain
of markets involved in the process. Together
with understanding each step of the
manufacture and circulation of a shirt, we
realise that some people stand to gain in
the market transaction whereas others do
not gain as much, or none at all. The
opportunities are highly unequal. Ways do
exist, such as those of cooperative
marketing, which can provide a better
return to the producers. However, we need
to find many more viable avenues for
equitable distribution.
These chapters offer an opportunity of
bringing in the experience of local markets
for discussion in the classroom. A visit to
a wholesale market would be of interest,
and would allow the learner to find out the
profit margins and details of daily earnings
so that those inequalities can be directly
examined. The experiences of markets are
varied and also quite rich. Hence, one
should allocate time for some questions,
not addressed in the text, which students
may wish to discuss.
81
2020-21
Markets Around Us
We go to the market to buy many things – vegetables, soap, toothpaste, masala,
bread, rice, dal, clothes, notebooks, biscuits, etc. If we make a list of the goods
that we purchase, it would be really long. There are many kinds of markets that
we may visit for our everyday needs: these can include shops, hawker’s stalls in
our neighbourhood, a weekly market, a large shopping complex, perhaps even a
mall. In this chapter, we look at some of these markets and try to understand
how the goods that are sold there reach buyers, who these buyers are, who these
sellers are, and the sorts of problems they face.
7
CHAPTER
2020-21
83
2020-21
Page 5


80
UNIT
FIVE
2020-21
81
Markets
Teacher’s note
These two chapters focus on aspects of
life and commercial cycles associated with
markets. While some of these processes
may be visible and, therefore, easily
observable, there are also others that are
relatively unfamiliar.
Chapter 7 discusses ‘Markets Around
Us’. At one level, we study different market
sites: a weekly market, neighbourhood
shops, a shopping complex, etc. At another
level, we explore the intricate question,
‘how do goods reach these markets?’ We
examine how a chain of markets operates
and the role of wholesale markets within
this, through the case study of a wholesale
vegetable market. We usually associate
‘market’ with marketplaces, but buying and
selling takes place in diverse ways and the
chapter discusses how all of this falls
within a larger understanding of markets.
Chapter 8 looks at how markets offer
people different opportunities. This is done
through the ‘story of a shirt’, and the chain
of markets involved in the process. Together
with understanding each step of the
manufacture and circulation of a shirt, we
realise that some people stand to gain in
the market transaction whereas others do
not gain as much, or none at all. The
opportunities are highly unequal. Ways do
exist, such as those of cooperative
marketing, which can provide a better
return to the producers. However, we need
to find many more viable avenues for
equitable distribution.
These chapters offer an opportunity of
bringing in the experience of local markets
for discussion in the classroom. A visit to
a wholesale market would be of interest,
and would allow the learner to find out the
profit margins and details of daily earnings
so that those inequalities can be directly
examined. The experiences of markets are
varied and also quite rich. Hence, one
should allocate time for some questions,
not addressed in the text, which students
may wish to discuss.
81
2020-21
Markets Around Us
We go to the market to buy many things – vegetables, soap, toothpaste, masala,
bread, rice, dal, clothes, notebooks, biscuits, etc. If we make a list of the goods
that we purchase, it would be really long. There are many kinds of markets that
we may visit for our everyday needs: these can include shops, hawker’s stalls in
our neighbourhood, a weekly market, a large shopping complex, perhaps even a
mall. In this chapter, we look at some of these markets and try to understand
how the goods that are sold there reach buyers, who these buyers are, who these
sellers are, and the sorts of problems they face.
7
CHAPTER
2020-21
83
2020-21
84 Social and Political Life
Why do people go to a weekly
market? Give three reasons.
Who are the sellers in a weekly
market? Why don’t we find big
business persons in these
markets?
Why are things cheap in the
weekly market?
Explain with an example how
people bargain in the market. Can
you think of a situation where the
bargain would be unfair?
Sameer is a small trader in the weekly
market. He buys clothes from a large
trader in the town and sells them in six
different markets in a week. He and
other cloth sellers move in groups. They
hire a mini van for this. His customers
are from villages that are near the
marketplace. At festival times, such as
during Deepavali or Pongal, he does
good business.
Sameer: Seller of clothes
Weekly market
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.  Then they
may set up at a different place the next day. There
are thousands of such markets in India. People come
here for their everyday requirements.
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 to the
government. They also have to pay wages to their
workers. In weekly markets, these shop owners store
the things they sell at home. Most of them are helped
by their family members and, hence, do not need to
hire workers. Weekly markets also have a large
number of shops selling the same goods which means
there is competition among them. If some trader were
to charge a high price, people would move to another
shop where the same thing may be available more
cheaply or where the buyer can bargain and bring
the price down.
One of the advantages of weekly markets is that
most things you need are available at one place.
Whether you want vegetables, groceries or cloth
items, utensils – all of them can be found here. You
do not have to go to different areas to buy different
things. People also prefer going to a market where
they have a choice and a variety of goods.
Shops in the neighbourhood
We have seen that the weekly markets offer a variety
of goods. However, we also buy things from other
kinds of markets. There are many shops that sell
goods and services in our neighbourhoods. We may
buy milk from the dairy, groceries from departmental
stores, stationery, eatables or medicines from other
2020-21
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