Class 7 Political Science - Markets Around Us

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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?

Availability of many essential items in one place Signup and view all the answers

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

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

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

From shops nearby like dairy or grocery stores Signup and view all the answers

What is the main advantage of shops near our home?

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

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

The trader in a weekly market Signup and view all the answers

What type of goods are sold at shopping complexes?

Both branded and non-branded goods Signup and view all the answers

What role do traders play in the market?

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

What distinguishes a shopping complex from a regular market?

Shopping complexes consist of many shops all at one place Signup and view all the answers

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

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

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?

Why is a weekly market named as such?

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

What advantage do weekly markets offer according to the text?

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

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

What is the main advantage of shops near our home?

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

What type of goods are sold at shopping complexes?

What role do traders play in the market?

What distinguishes a shopping complex from a regular market?

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

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