Important Questions: A Shirt in the Market - Class 7 MCQ

These markets are not daily markets but are to be found at a particular place on one or maybe two days of the week. These markets most often sell everything that a household needs ranging from vegetables to clothes to utensils.

A weekly market is a type of market that occurs once a week, where various goods are sold. Here are some key points about weekly markets:

• They operate on specific days, typically once or twice a week.
• Offer a wide range of products, including vegetables, clothing, and household items.
• Provide a platform for local vendors to sell their goods directly to consumers.
• Help support local economies by promoting small-scale trade.

In summary, a weekly market is an essential part of community life, catering to the diverse needs of households.

This is an enclosed shopping space. It is typically a large building with multiple floors that houses various shops, restaurants, and sometimes even a cinema. The shops primarily offer branded products.

• Store: A general term for a place where goods are sold.
• Mall: A large shopping centre with many stores and amenities.
• Department: A section within a store that sells specific types of goods.
• Shop: A smaller retail space selling goods or services.

Buying and selling in large quantities refers to the practice known as wholesale. This method is common for various products, including:

• Vegetables
• Fruits
• Flowers

Wholesale markets serve as a platform where these products are traded in bulk, allowing sellers to reach retailers or other buyers efficiently.

A series of markets that are connected like links in a chain because products pass from one market to another.

The term that best describes this concept is a chain of markets. This refers to the interconnectedness of various markets through which products move. Here are some key points to understand:

• Definition: A chain of markets consists of multiple markets linked together, facilitating the flow of goods.
• Function: Products pass from one market to another, creating a network of trade.
• Importance: This system helps in distributing goods efficiently and allows producers to reach consumers.

In summary, a chain of markets is essential for the movement of products and plays a significant role in the economy.

Weekly shop Traders set up a shop for the day and in the evening they close it. They set up the shops in another location the next day. ... This is because since these shops are not permanent, they save on expenses such as rent, electricity and fees to the government.

Large multi-storeyed air-conditioned buildings with shops on different floors are known as:

Malls are popular shopping destinations that offer a variety of stores and services. Here are some key features:

• They typically have multiple levels or floors.
• They provide a range of shopping options, including clothing, electronics, and food.
• Malls often include entertainment facilities such as cinemas and play areas.
• They are designed to be comfortable with air conditioning and amenities for shoppers.

In summary, malls serve as convenient locations for shopping and leisure, catering to various consumer needs.

Where can one buy branded products from?

Branded products can be purchased from various locations, each offering unique advantages:

• Shopping complexes: These are large retail spaces that house multiple brands, providing a wide selection of products under one roof.
• Wholesale markets: Ideal for bulk purchases, these markets often offer lower prices but may require buying in larger quantities.
• Neighbour shops: Convenient for quick purchases, these local shops may carry a limited selection of branded items.
• Weekly markets: These temporary markets can offer branded products at competitive prices, but availability may vary.

Among these options, shopping complexes are generally the best choice for a comprehensive range of branded products.

To buy 100 pencils as return gifts for your birthday, the best option is a wholesaler.

Here are the reasons why:

• Cost-effective: Wholesalers typically offer lower prices for bulk purchases.
• Variety: They often have a wide range of products to choose from.
• Convenience: Buying in bulk saves time and effort compared to multiple smaller purchases.
• Quality assurance: Wholesalers usually maintain good quality standards for their products.

B is the correct option.Economic status is the key factor that distinguishes the place from people. Examinations of socioeconomic status often reveal inequities in access to resources, plus issues related to privilege, power and control.

• Convenience: This refers to how easy it is for consumers to access products.
• Credit given: The availability of credit can influence purchasing decisions.
• Availability: The presence of products in the market affects consumer choices.

However, advertisement is not a factor that people typically assess when evaluating the market. While advertising can influence consumer awareness, it does not directly impact the fundamental assessment of market conditions.

Branded goods are often preferred over non-branded goods due to several reasons:

• Brand Recognition: Consumers tend to trust established brands, believing they offer better quality.
• Perceived Quality: Branded items are often associated with higher quality and reliability.
• Marketing Influence: Effective advertising campaigns enhance the appeal of branded products.
• Customer Loyalty: Many consumers develop a loyalty to specific brands, leading to repeat purchases.

In summary, the claim of better qualities and the trust built through branding significantly influence consumer preferences.

Buying and selling takes place at every step in the chain.

The process of buying and selling in the market involves several key stages:

• Producers like farmers grow the raw materials.
• Traders purchase these materials to sell to manufacturers.
• Manufacturers create products from the raw materials.
• Retailers sell the finished products to consumers.

This chain illustrates that:

• Each participant plays a crucial role in the market.
• Profits and benefits are not equally distributed among all parties.
• Some individuals, like foreign businesspersons, may gain significantly more than others.

Understanding this chain helps us see the interconnectedness of the market and the varying levels of profit and loss experienced by different stakeholders.

Swapna, a small farmer in Kurnool, grows cotton on her small piece of land.

During the cotton harvesting season, Swapna faces several challenges:

• She borrowed ₹2,500 from a local trader at a high interest rate to buy seeds, fertilisers, and pesticides.
• The trader required her to sell all her cotton to him.
• High input costs for cotton cultivation often force small farmers to borrow money.

After harvesting, Swapna and her husband take their cotton to the trader instead of the market. Here’s how the process unfolds:

• The trader weighs the cotton and pays ₹1,500 per quintal.
• From the total sale of ₹6,000, the trader deducts ₹3,000 for the loan and interest.
• Swapna receives only ₹3,000 for her hard work.

Despite her efforts, Swapna feels she is not receiving a fair price:

• She toiled for four months and expected a better return.
• The trader claims cotton prices are low due to high supply.

Swapna's situation highlights the struggles of small farmers:

• They often earn less than if they worked as wage labourers.
• Dependence on traders for loans limits their bargaining power.

This cycle of borrowing and selling at low prices illustrates the challenges faced by small farmers like Swapna.

• Spinning mills primarily deal with the production of yarn.
• They start with raw materials, mainly cotton, which is processed to create threads.
• Fabric is typically produced from these threads, but spinning mills do not directly buy fabric.
• Hence, the correct answer is cotton, as that is the main input for yarn production.

 A Ginning Mill, also known as a "cotton gin," is responsible for removing the seeds from cotton fibers and pressing the cotton into bales. This process is crucial in preparing cotton for further processing and eventual use in textile production.

Erode is known for its bi-weekly market, which is a significant trading hub for agricultural products and textiles. This market is held twice a week, and it is an important point for the exchange of goods, particularly benefiting local farmers and traders.

B is the correct option.Erode; a city in Tamil Nadu has a bi-weekly cloth market. It is one of the largest cloth markets in the world. It boasts of a large variety of clothes.

The weavers receive the yarn from the merchant and weave it into cloth, which they then supply back to the merchant. This is part of the textile supply chain

The main cost of inputs is the looms. The weavers invest all their savings or borrow money at exorbitant interest rates for buying the looms. A loom costs Rs 20000/-. A weaver who has two looms has to shell out Rs 40000/-. Since the work on these looms cannot be done alone, another adult family member works with him. They work upto 12 hours a day. They earn a meagre amount of Rs 3500/- per month in spite of working so hard.

Weaver's cooperatives are a significant way to lessen reliance on merchants and increase weavers' income. Here’s how they work:

• Weavers join together in a cooperative to support each other.
• They collectively purchase yarn from dealers, reducing costs.
• The cooperative handles marketing, allowing weavers to sell directly.
• This approach diminishes the merchant's role, ensuring weavers receive a fair price for their products.
• Government support can also aid cooperatives by purchasing cloth at reasonable rates.

This structure empowers weavers, enabling them to earn more and gain control over their work.