NCERT Solutions for Class 7 Civics Chapter 8 – Markets around Us
Chapter 8 delves into various aspects of daily life and the economic cycles intertwined with markets. This chapter educates students about weekly markets, neighborhood shops, shopping complexes, malls, market chains, and the concept of equality within these settings. With an exercise containing 5 questions, the NCERT Solutions for Class 7 Civics Chapter 8, "Markets around Us," offer detailed answers to help students learn how to effectively present their responses during exams.
Download PDF For NCERT Solutions for SST- Civics Markets around Us
The NCERT Solutions for Class 7 Civics Chapter 8 – Markets around Us are tailored to help the students master the concepts that are key to success in their classrooms. The solutions given in the PDF are developed by experts and correlate with the CBSE syllabus of 2023-2024. These solutions provide thorough explanations with a step-by-step approach to solving problems. Students can easily get a hold of the subject and learn the basics with a deeper understanding. Additionally, they can practice better, be confident, and perform well in their examinations with the support of this PDF.
Download PDF
Access Answers to NCERT Solutions for Class 7 Civics Chapter 8 – Markets around Us
Students can access the NCERT Solutions for Class 7 Civics Chapter 8 – Markets around Us. Curated by experts according to the CBSE syllabus for 2023–2024, these step-by-step solutions make SST- Civics much easier to understand and learn for the students. These solutions can be used in practice by students to attain skills in solving problems, reinforce important learning objectives, and be well-prepared for tests.
Markets around Us
In what ways is a hawker different from a shop owner?
A hawker does not have a fixed location from where they sell their items. Instead, they move from one location to another, selling their wares at a minimum profit. There is a minimum capital investment when it comes to setting up a business unit, and there is no limit to the wares that can be sold by a hawker while bringing their service to the very doorstep of customers.
A shopkeeper has a fixed building from where they sell their wares. Customers will come to buy their desired items at the shops. A shopkeeper’s customer base is limited to the geographical location of their shop. The wares sold can be limited to the type of shop. For example, a clothing store will only sell clothes, while an electrical shop will only sell electric items, etc.
Compare and contrast a weekly market and a shopping complex on the following:
|
Market |
Kind of goods sold |
Prices of goods |
Sellers |
Buyers |
|
Weekly market |
||||
|
Shopping complex |
|
Market |
Kind of goods sold |
Prices of goods |
Sellers |
Buyers |
|
Weekly market |
Different items of everyday use, such as vegetables, groceries, cloth, items, utensils, etc. |
Prices of goods are not that high. They can be easily afforded. |
Small traders and hawkers |
People belonging to the lower-middle-income group. |
|
Shopping complex |
Branded items such as readymade clothes, home appliances, footwear, leather items, etc. In some complexes, there are even food items available for immediate consumption. |
Prices of goods are usually high. Only those who have a high income can buy them. |
Big businesses and traders |
People belonging to the upper-middle class and above. |
Explain how a chain of markets is formed. What purpose does it serve?
Goods are first produced in factories, farms and homes (depending on the type of business it is). However, it does not mean that a consumer needs to visit these places to buy these goods since the ones making them will not sell in small quantities to an individual buyer.
This is where wholesale traders come in. They are the intermediaries between the producers and the final consumers. They first buy the goods in bulk and then sell them to retailers. The amount sold will be in accordance with the demand prevalent. These retailers will finally sell it to the end consumers.
Thus, it can be inferred that from factories to consumers, a chain is formed. This is called a chain of markets or market chain. It can be better understood from the flow chart given below:
It is this market chain that maintains equilibrium in the supply and demand of the economy.
‘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 applied to all the shops with expensive items. Even if the consumer cannot afford to buy them, the shopkeeper is still obligated to show the items up for display. The shopkeeper, under no circumstances, may force the consumer to buy the item presented. That decision is solely left to the discretion of the consumer. An example of this can be given below:
Sujata and Kavita went to Ansal Mall for a casual visit. While exploring their way through the mall, they enter a shop which is selling branded clothes. Although they marvel at the quality of the clothes, the outlandish price tags on them made them move away to a different shop selling the same type of clothes at a reasonable price.
‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.
The age of the internet has opened the proverbial door to new opportunities. Now one does not need a physical marketplace to buy and sell goods. They can now be purchased online through cards and payment apps. One can just place the order, and it will be delivered to their doorstep. It applies to even local kirana stores, where with the help of a web or mobile app, one can place orders for groceries, and they will be delivered to them.
For example, in clinics and nursing homes, we may have noticed sales representatives from medical companies waiting for the doctor to arrive. Such people are also engaged in the selling of goods. Thus, buying and selling take place in different ways and do not require the physical presence of a shop.
Frequently Asked Questions
The NCERT solution for Class 7 Chapter 8: Markets around Us is important as it provides a structured approach to learning, ensuring that students develop a strong understanding of foundational concepts early in their academic journey. By mastering these basics, students can build confidence and readiness for tackling more difficult concepts in their further education.
Yes, the NCERT solution for Class 7 Chapter 8: Markets around Us is quite useful for students in preparing for their exams. The solutions are simple, clear, and concise allowing students to understand them better. They can solve the practice questions and exercises that allow them to get exam-ready in no time.
You can get all the NCERT solutions for Class 7 Civics Chapter 8 from the official website of the Orchids International School. These solutions are tailored by subject matter experts and are very easy to understand.
Yes, students must practice all the questions provided in the NCERT solution for Class 7 Civics Chapter 8: Markets around Us as it will help them gain a comprehensive understanding of the concept, identify their weak areas, and strengthen their preparation.
Students can utilize the NCERT solution for Class 7 Civics Chapter 8 effectively by practicing the solutions regularly. Solve the exercises and practice questions given in the solution.