Market Around Us - Class 7 Civics - Extra Questions

What is done in the wholesale markets?

This is where goods first reach and are then supplied to other traders.


Who is retailer?

A retailer is a small trader who buy goods from the wholesale trader and sells this to the consumer.


Why do we not buy directly from the producer?

It is because the producer is not interested in selling goods in small quantities.


Why is a weekly market called so?

A weekly market is called so because it is held on a specific day of the week.


What is meant by double coincidence of wants?

Double coincidence of wants means: 
Both parties, the seller and buyers have to agree to sell and buy each others commodities. Goods are directly exchanged without the use of money.


Explain how a chain of markets is formed. What purpose does it serve?

Goods are produced in factories, Goods are also produced in farms and in homes. But we are required to go to factories or farms to buy goods of our need Because the producers are not interested in selling us small quantities. The wholesale traders do this job. They are the people who come in between the producer and the consumer. They first buy good in bulk. They sell these goods to the retailers, who finally sell this to the consumers.
From the above instance, we come to the conclusion that from factories to final consumers a chain is formed, which we may call a chain of markets. We can better understand it through the flow chart given below.
It serves great purpose. It maintains flow of money. It makes easy availability of various items of our daily use. It also promotes co-ordination in society.



How are shop owners in a weekly market and those in shopping complex very different people?

Both are undoubtedly different people.
(a) The shop owners in a weekly market are small traders who run their shop with little money. On the other hand the shop owners of shopping complex are big parties. They have a lot of money to spend on their shops.
(b) What these two types of shop owners earn is also not equal. The weekly trader earns little compared to the profit of regular shop owner in a shopping complex.


Long answer type question:
Write in brief on 'market and equality.'

We do not see equality in the market. Reasons can be cited as follows:
  • Big and powerful business persons earn huge profits while small traders earn very little. For example, the shop owners in a weekly market and those in a shopping complex are two different people. One is a small trader who has little money to run the shop. Whereas the other has a lot of money to spend on the shop. 

  • The earning of these two people is also unequal. The weekly market trader earns little profit whereas the shopping complex owner gains huge income.  

  • Not only the shop owners are different people, but also the buyers. In the market we see different types of buyers There are several buyers who were not able to afford even the cheapest of goods white others are busy shopping for different luxurious items in malls.


Compare and contrast a weekly market and a shopping complex on the following.
MarketKind of goods soldPrices of goodsSellersBuyers
Weekly market
Shopping complex

A weekly market is held on a specific day of the week. Weekly markets do not have permanent shops. Traders set up shops for the day and then close them up in the evening; then they may set up at a different place the next day. Many things like vegetables, baskets, clothes, etc. in weekly markets are available at cheaper rates. One of the advantages of weekly markets is that most things you need are available at one place. Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available at a cheaper price or where the buyer can bargain and bring the price down.

Shopping complexes are other markets in the urban area that have many shops. In many urban areas, there are large multi-storeyed air-conditioned buildings with shops on different floors. These are known as malls. In these urban markets, we get both branded and non-branded goods. The branded goods available at malls are expensive and claim of better quality. The companies producing these products sell them through shops in large urban markets and, at times, through special showrooms. Fewer people can afford to buy branded ones. 



'All persons have equal rights to visit any shop in a marketplace.' Do you think this is true of shops with expensive products? Explain with examples.

Yes, it is equally true for shops with expensive products. As a consumer, we can visit any shop. Even though we have no money in our pockets. The shop owner is bound to show the article which the customer asks him to show. He cannot force the customer to buy any article. It totally depends upon him whether he buys anything or not. We can understand it more clearly through an example. Kavita and Sujata went to Ansal Mall out of curiosity. While wandering here and there they enter a shop all of sudden. They have no plan to buy anything. They look at some branded dresses and then leaves without buying.


'Buying and selling can take place without going to marketplace.' Explain this statement with help of examples.

This is the age of the internet. It has changed the mode of everything. We can now make online purchases with the help of credit cards. We can place orders through the internet and the goods are delivered at our place.
In clinics and nursing homes, we usually notice medical representatives waiting for doctors. These medical representative are also engaged in selling goods. Thus, buying and selling take place in different ways, without going to the market.


Who is sameer? What does he do?

Sameer is a small trader in the weekly market. He buys clothes from a large trader and sells them in six different markets in a week.


Why is there a competition among the shops in the weekly market?

In the weekly market there are many shops that sell the same goods. This create competition among them.


Write in brief about shopping complex and malls.

Shopping complexes and malls are usually found in urban areas. These are large multi-storeyed air-conditioned building with shops on different floors. These shops sell both branded and non-branded goods. Fewer people visit malls because they sell costly items. Only well-to-do people can afford to buy these items.


Who is Aftab?

Aftab is a wholesaler in the city. He purchases vegetables in bulk and sells them to hawkers and shopkeepers.


Give some example of roadside stalls.

Vegetable hawker, fruit vendor, mechanic.


Compare and contrast a weekly market and a shopping complex on the following :
MarketKinds of goods soldPrices of goodsSeller Buyer
Weekly market
Shopping complex

 MarketKinds of goods sold
 Prices of goodsSeller Buyer 
Weekly marketDifferent items of our everyday use such as vegetables, groceries, cloth items, utensils, etc.Prices of goods are not very high. Common people can easily afford them. Small traders and hawkers. Local people belonging to low income group. 
 Shopping complexBranded items such as readymade clothes, home appliances, footwear, leather items, etc. Here we also get eatables such as pizza, burger etc.  Prices of goods are usually high. Only rich people can afford to buy them.Big businessmen and traders. 
Wealthy city people.


In what ways is a hawker different from a shop owner?

A hawker provides door to door service. He sells his goods by calling out the names of his items. He generally owns a thela which we may call a movable shop and keep in it different items of our everyday use. He sells his goods at the minimum profit.
A shop owner runs his shop at one fixed place. Whenever we need anything we go there and purchase it. Here, we get things at the somewhat costlier rate.


Class 7 Civics Extra Questions