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Class 7 Civics Chapter 7 Question Answers - Market Around Us

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.

The document Class 7 Civics Chapter 7 Question Answers - Market Around Us is a part of the Class 7 Course Social Studies (SST) Class 7.
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FAQs on Class 7 Civics Chapter 7 Question Answers - Market Around Us

1. What is the meaning of market in economics?
Ans. In economics, a market refers to a physical or virtual place where buyers and sellers come together to exchange goods and services.
2. What are the different types of markets?
Ans. There are various types of markets, including the product market, factor market, stock market, foreign exchange market, and commodity market.
3. How does demand and supply affect the market?
Ans. Demand and supply are the two main factors that determine the prices and quantities of goods in a market. When demand exceeds supply, prices tend to increase, and vice versa.
4. What is market equilibrium?
Ans. Market equilibrium refers to a state where the quantity demanded by consumers and the quantity supplied by producers are equal, leading to a stable price and quantity in the market.
5. How does competition impact the market?
Ans. Competition in the market encourages producers to offer better quality products at competitive prices. It benefits consumers by providing them with more choices and lower prices.
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