Very Short Q & A :
Q1: Neighbourhood markets often give goods to their regular customers on ____________.
Ans : Credit
Q2: The shopping malls mostly sells ________________items.
Ans : Branded
Q3: Exporters get the maximum work out of the workers at the lowest possible wages. In this way they maximize their own profit. True/ False
Ans : True
Q4: Markets that cater to the immediate needs of an area are called
a. Super market
b. Neighbourhood market
c. Malls
d. All of these
Ans : Neighbourhood market
Q5: People who buy and sell thing in bulk are called -----------
Ans : Wholesale traders
Q6: Who is a retailer?
Ans : Traders who sell good to the consumers
Q7: Who is a wholesale trader?
Ans : People or traders who buy and sell thing in bulk and sold them to other traders
Q8: Raj mother asked him to get some cheap plastic containers, from where he should purchase the containers- road side markets or permanent market?
Ans : Road side markets
Q9: State an advantage of weekly market.
Ans : Most of the things we need are available at one place.
Q10: The market that held on specific day of the weak is called
a. Permanent market
b. Weekly market
c. Wholesale market
d. Neighbourhood market
Ans : Weekly market
Q11: Why branded goods are expensive as compared to non-branded goods?
Ans : Branded goods are often promoted by advertising, which costs a lot and thus are expensive.
Q12: Why fewer people can afford to buy branded goods?
Ans : Because these goods are expensive
Q13: The people in between the producer and final consumer are __________________.
Ans : Traders
Q14: For buying and selling, shops are must in the market. True/ False
Ans : False
Q15: These days’ goods can be delivered at home through internet also. True/False
Ans : True
Q16: Which of the following can be used for online purchase
a. Credit cards
b. Debit cards
c. Both a and b
d. Smart cards
Ans : Both a and b
Q17: What is the importance of chain of market?
Ans : It is because of chain of market that goods produced at one place reaches people everywhere
Q18: Define wholesale.
Ans : Wholesale means buying and selling of goods and products in very large quantities.
Q19: What is chain of market?
Ans : A series of markets that are connected like links forms chain of market. Products passes from one market to another.
62 videos|336 docs|46 tests
|
1. What is the meaning of market in economics? |
2. What are the different types of markets? |
3. How does demand and supply affect the market? |
4. What is market equilibrium? |
5. How does competition impact the market? |
|
Explore Courses for Class 7 exam
|