NCERT Solutions for Class 7 Social Science - Market Around Us

Q2: Compare and contrast a weekly market and a shopping complex on the following-
Ans: 

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 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.