Markets Around Us

Chapter – 8 Markets Around Us
I. Multiple Choice Questions. Choose the correct option

1) Which one is not correct-statement?
a) Malls are run in urban areas.
b) They are multi-storeyed air-conditioned buildings
c) They sell things at cheaper rates
d) They sell both branded and non-branded goods.
2) For making online purchases we use ______

a) Credit card b) Debit card c) Ration card d) PAN card
3) Which shop is not found in our neighbourhood?

a) Departmental store b) Diary c) Shopping Complex d) Grocery
4) _______ markets have a large number of shops selling the same goods.
a) Weekly b) Neighbourhood shops
c) Shopping complexes d) None of the above
5) _______ are not interested in selling us small quantities.

a) Wholesale trader b) Sellers c) Producers d) None of these
6) Shopping complexes are found in _______ areas.

a) Urban b) Rural c) Urban and Rural d) None of these
7) Goods are produced in ___________.

a) Farms b) Factories c) Homes d) All of these
8) Weekly market ______.

a) Held on a specific day of the week
b) They have to pay rent
c) Have to pay wages to their workers
d) Have permanent shops
9) Goods sold in the weekly markets are ______
a) Expensive b) not good c) Cheap d) Fixed price
10) Chain of Market consists of __________

a) Wholesale Traders b) Consumers c) Retailers d) All of these
Q1. What are the different kinds of markets around us?
ANS1. There are so many kinds of markets we may visit like: neighborhood markets, weekly markets, mall,
shopping complex or a hawker’s stall.
Q2. What is a weekly market? Mention some of its features.
ANS2. 1) A weekly market is called so because it is set up on a particular day of the week. They do not have
permanent shops. Traders set up shops in the day and close them in the evening.
2) Then they set up at a different place the next day.
3) There are thousands of such markets in India. People come here for their everyday requirements.
4) Many things at the weekly market are available at the cheap rates.
5) Most of the things that you need are found here. For example, cloth, utensils, groceries, vegetables are
all available here.
Q3. Why do people prefer going to a weekly market?
OR
Why are things cheap in the weekly markets?
ANS2. 1) Many things in weekly markets are available at cheaper rates.
2) Most of the things that you need are found in weekly markets. For example, cloth, utensils, groceries and
vegetables are all available here.
3) Weekly markets also have a large number of shops selling the same goods which means there is
competition among them. If some trader charges a high price people would move to another shop where the same
thing is cheaper.
Q4. Briefly write about neighborhood markets.
ANS4. 1) There are many shops that sell goods and services in our neighborhoods. We may buy milk from the
dairy, grocery from departmental store, stationary, eatables and medicines from other shops.
2) Many of these are permanent shops, while others are roadside stalls like those vegetable vendor, fruit
hawker etc.
Q5. Discuss the uses of shops in the neighborhood.
ANS5. Shops in the neighborhood are useful in many ways. They are near our home and we can go there on any
day of the week. Usually the buyer and the seller know each other and the shops provide goods on credit.
Q6. Write a note on shopping complexes and malls.
ANS6. 1) There are markets in urban areas that have many shops popularly called shopping complexes.
2) These days in many urban area they also have multi storey air conditioned buildings with shops on
different floors, known as malls. In these urban markets you get both branded and non branded stuff.
Q7. What is the job of a wholesale trader?
ANS7. 1) The people in between the producer and the final consumers are the traders.
2) The wholesale trader first buys goods in large quantities. These will then be sold to other traders.
3) In these markets, buying and selling takes place between traders. It is through these links that goods
reach faraway places.
4) The trader who finally sells this to the consumer is the retailer.
Q8. How can you say that markets are everywhere.
ANS8. 1) We have many markets like weekly markets, neighborhood markets and malls etc. but it is not necessary
that we have to step out of home to do shopping.
2) We can place orders for a variety of things through the phone and the goods are delivered at home.
3) In clinics and nursing homes we can notice sales representative waiting for doctors. Such persons are
engaged in the selling of goods.
4) Thus buying and selling takes place in different ways, not necessarily in shops in the market, so we can
say that markets are everywhere.
Q9. What is online purchase?
ANS9. In urban areas we can do shopping on the internet. We order the goods and they are delivered at our home.
This is called online purchase.
Q10. Write a short note on markets and equality.
ANS10. Shop owners in a weekly market and those in shopping complex are very different people. One is a small
trader with little money whereas the other is able to spend a lot of money to set up the shop. They also earn
unequal amounts. The weekly market traders earns little compared to the profit of a regular shop owner in a
shopping complex. Similarly buyers are differently placed. There are many who can’t afford the cheapest of goods,
while the others are busy in malls.
Q11. What do you mean by the chain of markets?
ANS11. A service of markets that are connected like links in a chain because product pass from one market to
another.

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Chapter – 8 Markets Around Us

I. Multiple Choice Questions. Choose the correct option

2) For making online purchases we use ______

3) Which shop is not found in our neighbourhood?

c) Shopping complexes d) None of the above

5) _______ are not interested in selling us small quantities.

6) Shopping complexes are found in _______ areas.

7) Goods are produced in ___________.

8) Weekly market ______.

10) Chain of Market consists of __________

Q1. What are the different kinds of markets around us?

Q2. What is a weekly market? Mention some of its features.

2) Then they set up at a different place the next day.

Q3. Why do people prefer going to a weekly market?

Why are things cheap in the weekly markets?

ANS2. 1) Many things in weekly markets are available at cheaper rates.

Q4. Briefly write about neighborhood markets.

Q5. Discuss the uses of shops in the neighborhood.

Q6. Write a note on shopping complexes and malls.

Q7. What is the job of a wholesale trader?

Q8. How can you say that markets are everywhere.

Q9. What is online purchase?

Q10. Write a short note on markets and equality.

Q11. What do you mean by the chain of markets?

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