Worksheet Solution : Market Around Us | Footprints Class 7: Book Solutions, Notes & Worksheets PDF Download

Q1: Multiple Choice Questions (MCQs)

1:What is the primary function of a retailer?

A) Selling goods in bulk to wholesalers

B) Acting as a link between producers and consumers

C) Buying goods from manufacturers in large quantities

D) Providing credit facilities to farmers

Answer: B) Acting as a link between producers and consumers

Explanation: Retailers serve as intermediaries between producers and consumers, facilitating the sale of goods to end-users.

2: Which of the following is not a type of retail store?

A) Specialty Stores

B) Weekly Markets

C) Shopping Malls

D) Mobile Traders or Vendors

Answer: B) Weekly Markets

Explanation: Weekly markets are not a type of retail store but rather a periodic marketplace where various vendors gather to sell goods.

3: What is the main function of wholesalers?

A) Selling goods directly to consumers

B) Providing credit facilities to retailers

C) Facilitating buying, storing, and supplying goods

D) Innovatively presenting products to attract customers

Answer: C) Facilitating buying, storing, and supplying goods

Explanation: Wholesalers act as intermediaries between producers and retailers, handling bulk quantities of goods and facilitating their distribution.

4: Which factor influences a customer's preference for a specific market?

A) Proximity to industrial areas

B) Availability of luxury goods

C) Price and quality of goods

D) Popularity of the market among locals

Answer: C) Price and quality of goods

Explanation: Customers often choose a market based on the balance between price and quality offered by the retailers.

5: What is the objective of the e-choupal initiative by ITC Limited?

A) To increase the number of intermediaries in the agricultural supply chain

B) To exploit small farmers for higher profits

C) To provide Internet access and empower small farmers

D) To decrease the transparency in agricultural transactions

Answer: C) To provide Internet access and empower small farmers

Explanation: The e-choupal initiative aims to empower small farmers by providing them with Internet access for information and marketing, ultimately improving their livelihoods.

Q2: Fill in the Blanks

1: Retail markets primarily serve the purpose of selling products to __________ for their personal and daily use.

Answer: consumers

2: Wholesalers buy goods in bulk from __________ and sell them to retailers and industrial users.

Answer: manufacturers

3: Farmers often sell their produce in markets like __________ to earn better profits and avoid exploitation by intermediaries.

Answer: mandis

4: Government-regulated markets ensure fair prices for farmers through proper sales methods and __________.

Answer: transparency

5: The e-choupal initiative by ITC aims to empower small farmers by providing them with __________ for information and marketing.

Answer: Internet access

Match the Column

Match the items in Column A with the appropriate options in Column B.

Answers:

1. d

2.a

3.e

4.b

5.c

Q4: True or False

Indicate whether the following statements are true or false.

1: Retail markets primarily focus on selling products to industrial users.(True / False)

Answer: False

Explanation: Retail markets primarily serve consumers for personal and daily use.

2: Wholesalers buy goods in bulk from retailers and sell them to manufacturers.(True / False)

Answer: False

Explanation: Wholesalers typically buy goods from manufacturers or their agents and sell them to retailers or industrial users.

3: The e-choupal initiative aims to exploit small farmers for higher profits.(True / False)

Answer: False

Explanation: The e-choupal initiative aims to empower small farmers by providing them with resources and market access, not exploit them.

4: Weekly markets are a type of wholesale market.(True / False)

Answer: False

Explanation: Weekly markets are periodic marketplaces where various vendors gather to sell goods directly to consumers.

5:Government-regulated markets ensure fair prices for farmers through proper sales methods and transparency. (True / False)

Answer: True

Explanation: Government-regulated markets aim to ensure fair practices and pricing in agricultural transactions through transparent methods.