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Class 7 Civics Chapter 7 Question Answers - Market Around Us

Short Q&A:

Q1: Why weekly markets are cheaper than permanent shops?

Ans : Permanent shops have to incur a lot of expenditure like shop rent, electricity, fees to the government etc., but a weekly market shop owner don’t have to bear these expenses. Permanent shops holder also have to pay wages to their workers but weekly market shop owner have helpers from their family members, and thus they don’t need to hire workers. And are cheaper than permanent shops.

Q2: Why Neighbourhood market is preferred by the Indians?

Ans : Neighbourhood markets are near our house, one can go there at any day of the week. The buyers and sellers know each other and these shops also provide goods on credits,

Q3: Differentiate between shopping complexes and malls.

Ans : Markets mostly in urban areas having many shops are called shopping complexes. In many urban areas there are large multi-storeyed air conditioned building with shops on different floors, knows as malls.

Q4: Establish relationship between the market and the inequality?

Ans : Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Thus it forms an inequality amongst people.

Q5: Differentiate between permanent and temporary shops.

Ans : Permanent shops contains goods that are expensive in comparison to goods of temporary shops. Permanent shops store the things they sell in their shops but temporary shops owner store goods to be sold at their home.

 

Long Q & A : 

Q1: What is a chain of market? Do you think that everyone gains equally in the market?

Ans:

A series of markets that are connected like links forms chain of market. Products passes from one market to another. Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Everyone do not get equally in a market. Individual answer.

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 definition of a market?
Ans. A market is a place where buyers and sellers come together to exchange goods and services.
2. How does the concept of demand and supply work in a market?
Ans. Demand refers to the quantity of a good or service that consumers are willing and able to buy at a particular price, while supply refers to the quantity of a good or service that producers are willing and able to sell at a particular price. In a market, the interaction between demand and supply determines the price and quantity of goods or services exchanged.
3. What are the different types of markets?
Ans. There are several types of markets, including the following: - Perfect competition: A market with many buyers and sellers, where no single buyer or seller has control over the price. - Monopoly: A market with only one seller and no close substitutes for the product. - Oligopoly: A market with a few sellers, where each seller has a significant influence on the market price. - Monopolistic competition: A market with many sellers offering differentiated products. - Bilateral monopoly: A market with only one buyer and one seller.
4. How does competition affect markets?
Ans. Competition in a market leads to better quality products, lower prices, and more choices for consumers. It also encourages innovation and efficiency among producers as they strive to attract customers. However, excessive competition can lead to market instability and price wars, which may negatively impact businesses.
5. What are the factors that influence the demand and supply of goods and services in a market?
Ans. The demand and supply of goods and services in a market are influenced by various factors, including: - Price: Changes in price directly affect the quantity demanded and supplied. - Income: Consumers' purchasing power is influenced by their income levels, which affects their demand for goods and services. - Consumer preferences: Changes in consumer tastes and preferences can impact the demand for certain goods and services. - Availability of substitutes: The availability of alternative products or services can influence both demand and supply. - Government policies and regulations: Government actions, such as taxes or subsidies, can affect the demand and supply of goods and services in a market.
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