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Class 7 Exam  >  Class 7 Tests  >  Important Questions: Market Around Us - Class 7 MCQ

Important Questions: Market Around Us - Class 7 MCQ


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15 Questions MCQ Test - Important Questions: Market Around Us

Important Questions: Market Around Us for Class 7 2024 is part of Class 7 preparation. The Important Questions: Market Around Us questions and answers have been prepared according to the Class 7 exam syllabus.The Important Questions: Market Around Us MCQs are made for Class 7 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Important Questions: Market Around Us below.
Solutions of Important Questions: Market Around Us questions in English are available as part of our course for Class 7 & Important Questions: Market Around Us solutions in Hindi for Class 7 course. Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free. Attempt Important Questions: Market Around Us | 15 questions in 20 minutes | Mock test for Class 7 preparation | Free important questions MCQ to study for Class 7 Exam | Download free PDF with solutions
Important Questions: Market Around Us - Question 1
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How do neighbourhood shops benefit buyers?

Detailed Solution for Important Questions: Market Around Us - Question 1
Neighbourhood shops are convenient due to their proximity and often allow trusted customers to pay later, helping with financial flexibility.
Important Questions: Market Around Us - Question 2
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Why did Sujata carry a notebook to the shop?

Detailed Solution for Important Questions: Market Around Us - Question 2
Sujata's family uses a credit system with the shop, and the notebook helps both parties keep track of the amount owed.
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Important Questions: Market Around Us - Question 3
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What feature distinguishes malls from weekly markets?

Detailed Solution for Important Questions: Market Around Us - Question 3
Malls are modern, multi-storeyed buildings that often feature air conditioning and sell higher-priced branded goods.
Important Questions: Market Around Us - Question 4
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Why don’t people usually bargain in malls?
Detailed Solution for Important Questions: Market Around Us - Question 4
Prices in malls are non-negotiable as they sell branded goods with fixed costs, unlike in weekly markets where bargaining is common.
Important Questions: Market Around Us - Question 5
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What connects producers and final consumers in a chain of markets?
Detailed Solution for Important Questions: Market Around Us - Question 5
Traders act as intermediaries in the chain of markets, buying goods in bulk from producers and distributing them to retailers or consumers.
Important Questions: Market Around Us - Question 6
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What is the role of a wholesale trader?
Detailed Solution for Important Questions: Market Around Us - Question 6
Wholesale traders purchase large quantities of goods from factories or producers and supply them to retailers for sale to consumers.
Important Questions: Market Around Us - Question 7
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Where do wholesale traders often store their goods?
Detailed Solution for Important Questions: Market Around Us - Question 7
Wholesale traders use godowns (warehouses) to store large quantities of goods before distributing them to smaller traders or retailers.
Important Questions: Market Around Us - Question 8
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Why are branded goods costlier?
Detailed Solution for Important Questions: Market Around Us - Question 8
Branded goods are more expensive due to the costs of marketing and the assurance of better quality that often accompanies them.
Important Questions: Market Around Us - Question 9
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How do goods reach hawkers in neighbourhood markets?
Detailed Solution for Important Questions: Market Around Us - Question 9
Hawkers buy goods from wholesale traders who act as intermediaries, ensuring the flow of products from producers to small sellers.
Important Questions: Market Around Us - Question 10
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What is one advantage of shopping online?
Detailed Solution for Important Questions: Market Around Us - Question 10
Online shopping is convenient as it enables customers to purchase goods from home without physically visiting stores.
Important Questions: Market Around Us - Question 11
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What do malls and shopping complexes usually sell?
Detailed Solution for Important Questions: Market Around Us - Question 11
Malls cater to diverse customer needs by offering both branded and non-branded goods in various categories.
Important Questions: Market Around Us - Question 12
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How do shop owners in weekly markets compete?
Detailed Solution for Important Questions: Market Around Us - Question 12
To attract customers, weekly market traders lower their prices or negotiate with buyers, ensuring competitive pricing.
Important Questions: Market Around Us - Question 13
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What time does Aftab, the wholesaler, start his business?
Detailed Solution for Important Questions: Market Around Us - Question 13
Aftab starts early to participate in auctions and organize his stock for the day, catering to retailers arriving later in the morning.
Important Questions: Market Around Us - Question 14
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Why do fewer people afford branded goods?
Detailed Solution for Important Questions: Market Around Us - Question 14
Branded goods are priced higher due to production, marketing, and distribution costs, making them unaffordable for many.
Important Questions: Market Around Us - Question 15
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What is a significant difference between a mall and a weekly market?
Detailed Solution for Important Questions: Market Around Us - Question 15
Malls are fixed establishments with permanent shops, while weekly markets are temporary setups with no fixed locations.
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