SEBA Class 7 Social Science Chapter 18 Markets Around Us Solutions English Medium As Per New Syllabus Provided by The Roy Library. SEBA Class 7 Social Science Chapter 18 Markets Around Us Notes is made for SCERT English Medium Students. SEBA Class 7 Social Science Question Answer We ensure that You can completely trust this content. If you learn PDF Then you can Download PDF. I hope You Can learn Better Knowledge.
SEBA Class 7 Social Science Chapter 18 Markets Around Us
Today’s We have Shared in This Post SCERT Class 7 Social Science Textual Solutions English Medium. I Hope, you Liked The information About The SCERT Class 7 Social Science Notes in English. If you liked SEBA Class 7 Social Science Question Answer in English Then Please Do Share this Post With your Friends as Well.
Markets Around Us
| Part – 3: Political and Economics |
| Exercise |
1. Choose the correct answer:
(a) Customer purchase goods from.
(i) Wholesaler.
(ii) Retailer.
(iii) Producer or Manufacturer.
Ans: (ii) Retailer.
(b) If the selling price is higher than the cost price the trader earns.
(i) Profit.
(ii) Loss.
(iii) Nothing.
Ans: (i) Profit.
(c) Traders selling goods from house to house are called.
(i) Wholesaler.
(ii) Retailer.
(iii) Hawkers/vendor.
Ans: (iii) Hawkers/vendor.
(d) The sole aim of all traders in buying and selling goods is to-
(i) Increase their selling.
(ii) Earn profit.
(iii) Carn loss.
Ans: (ii) Earn profit.
2. Write short answer:
(a) What is barter system?
Ans: In ancient times, when money was not used, people exchanged goods directly for goods to fulfil their needs. This system of exchange is called the barter system. It is the oldest form of market.
(b) What is meant by market?
Ans: A market is a place where buying and selling of goods and services take place through money or currency.
(c) What are the advantages of daily market?
Ans: Daily markets remain open regularly. Goods are available at fixed prices. Customers can easily purchase essential items and choose from different shops.
(d) What is meant by price of goods?
Ans: The amount of money paid to buy a product is called its price.
(e) Why is the price of goods in weekly market less/cheaper?
Ans: In weekly markets, many sellers sell similar goods, which creates competition. Since sellers have fewer expenses, goods are sold at lower prices.
(f) Why is Jonbeel mela famous for?
Ans: Jonbeel Mela is famous because the traditional barter system is still practised there, making it a unique festival of Assam.
3. Write answers:
(a) Write down the differences between daily market and weekly market?
Ans:
| Daily Market | Weekly market |
| Shops open every day | Market is held once a week |
| Permanent buildings | Temporary stalls |
| Fixed prices | Bargaining is common |
| Higher expenses like rent and electricity | Low operating cost |
| Goods are comparatively costly | Goods are cheaper |
⚠️ Note: If you are Looking for more Questions and Answers, Please Click on the Buy Now Link Given Below
SEBA Class 8 Social Science Textual [New Edition Updated]
Hi! I’m Ankit Roy, a full time blogger, digital marketer and Founder of Roy Library. I shall provide you all kinds of study materials, including Notes, Suggestions, Biographies and everything you need.
