Class 7 Political Science - Markets Around Us
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Questions and Answers

What is the function of a market in the context of the text?

  • To link producers and consumers for sale and purchase of goods (correct)
  • To limit the buying capacity of customers
  • To provide goods only to producers
  • To create competition among sellers

    • Why is a weekly market named as such?

  • Due to the variety of goods sold
  • Because it is open all seven days of the week
  • To indicate that it operates once a month
  • Because it is held on a specific day of the week (correct)

    • What kind of investment can impact the profit earned in different markets?

  • Investment in technology only
  • Investment in luxury goods
  • Investment in basic necessities
  • Investment in seasonal products (correct)

    • What advantage do weekly markets offer according to the text?

    <p>Availability of many essential items in one place</p> Signup and view all the answers

    How do traders operate in weekly markets, as per the text?

    <p>They set up shops for days and close them in the evening</p> Signup and view all the answers

    Where do people in the neighborhood buy goods from according to the text?

    <p>From shops nearby like dairy or grocery stores</p> Signup and view all the answers

    What is the main advantage of shops near our home?

    <p>They provide convenience as we can visit them any day of the week</p> Signup and view all the answers

    Who is the person known as the retailer in the chain of markets?

    <p>The trader in a weekly market</p> Signup and view all the answers

    What type of goods are sold at shopping complexes?

    <p>Both branded and non-branded goods</p> Signup and view all the answers

    What role do traders play in the market?

    <p>They buy goods from producers and sell to retailers or consumers</p> Signup and view all the answers

    What distinguishes a shopping complex from a regular market?

    <p>Shopping complexes consist of many shops all at one place</p> Signup and view all the answers

    Why may there be some markets that people are not aware of?

    <p>They only sell goods we don't use directly</p> Signup and view all the answers

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