Test: Market Around Us - Class 7 MCQ

A weekly market is so called because it is held on a specific day of a week.Weekly markets do not have permanent shops. Traders set up shops for the day and then close them up in the evening. Weekly markets also have a large number of shops selling the same goods which means there is competition among them.

Retailers finally sell goods to the consumers.
The chain is given below:
Producer – Agent – Wholeseller – Retailer - Consumer.

The correct order of the chain of marketing is from the producer, who creates the product, to agents who facilitate distribution, then to wholesalers who handle bulk quantities, and finally to retailers who sell to consumers. Therefore, option (a) is the correct order.

• Branded clothes: Weekly markets usually do not sell branded clothes. They typically offer non-branded or locally made clothing items.


• Groceries: Weekly markets commonly have stalls or vendors selling fresh groceries such as fruits, vegetables, meat, and other food items.


• Non-branded clothes: Non-branded clothes are often found in abundance at weekly markets, offering a variety of affordable clothing options.


• Vegetables: Vegetables are a staple item in weekly markets, providing fresh produce to consumers at competitive prices.

• Perceived Value: Branded items are often associated with prestige and luxury, making them desirable to collect as a status symbol.


• Quality Assurance: Branded items are known for their quality and craftsmanship, adding to their appeal as collectible items.


• Exclusivity: Limited editions or rare branded items can be difficult to acquire, increasing their value and desirability among collectors.


• Social Recognition: Owning branded items can be a way to signal one's social status and taste to others, leading to social validation and recognition.


• Investment Value: Some branded items appreciate in value over time, making them not just a status symbol but also a potentially lucrative investment.

The correct answer is B as retailers sell goods at higher price than others in the chain market.

• Sellers in the Weekly Market: The sellers in the weekly market play a crucial role in providing goods and services to the local community.

• Businessmen: While some businessmen may participate in the weekly market, they are not the main sellers in this setting.


• Large Sellers: Large sellers typically operate in established retail stores or chains and may not be commonly found in weekly markets.


• Small Traders: Small traders are the primary sellers in weekly markets, offering a variety of goods ranging from fresh produce to handmade crafts.


• Industrialist: Industrialists are unlikely to be sellers in weekly markets as their focus is on large-scale production and distribution.

• Small traders are the main sellers in the weekly market: Their presence contributes to the vibrant atmosphere of these markets and provides local communities with access to essential goods and services.

Malls typically have air-conditioned buildings, multi-storeyed structures, and shops located on different floors. This combination of features provides a comfortable and diverse shopping experience for consumers, making option (d) the correct answer.

The final product reaches buyers through a chain of market, involving various intermediaries such as producers, wholesalers, and retailers. The chain of market represents the distribution channels that connect producers to consumers.

Shops in the neighborhood refer to local establishments that cater to the immediate community. Examples include a dairy, departmental store, and pharmacy—all of which are common in a neighborhood setting. Therefore, option (d) is the correct answer.