Markets

Around Us
Class-7 Semester-2 Unit-3
 WEEKLY MARKET
Weekly market held on a specfic day
of the week. They do not have
permanent shops, for example,
vegetable markets. 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 in weekly markets are
available at cheaper rates because:
1. They don’t have shops or
permanent buildings.
Therefore, they don’t have to pay rent,
electricity and other expenses.
2. They don’t have to pay wages to their
workers.
3. They have a large number of sellers
ASSIGNMENT QUESTIONS
1.Tick the correct option :
a. In a weekly market the shops are in
1.Permanent building 2. malls
3. Temporary building. 4. None of the above
3. Think and Write
You are a seller in a weekly market, list the
issues faced by you.

4. Short answer type questions :

c. What are the advantages of weekly
market?
SHOPS IN THE
NEIGHBOURHOO
D
There are many shops that sell
goods and services in our
neighbourhoods. We buy milk
from the dairy, groceries from
departmental stores etc.
Shops in the
neighbourhood are useful
in many ways.
• Shops are permanent and
are near our homes.
• Here, buyers and sellers
know each other and these
 SHOPPING
COMPLEXES AND
MALLS
• There are other markets in
the urban area that have
many shops popularly
called shopping complexes.
• These are multi-storeyed air-
conditioned buildings with
shops on different floors,
known as malls. Here you get
both branded and non-branded
goods.
Chain of market
Goods are produced in
factories, on farms and in
homes. The people in
between the producer
and the final consumer
are
the traders.
The wholesale trader
first buys goods in large
quantities. Then they sell
it to other traders.
 MARKETS
EVERYWHERE
It is not always necessary
that one has to go to the
market to purchase goods.
You can place orders for a
variety of things through
the phone and the Internet.
The goods get delivered to
your home. Buying and
selling take place in
different ways, not
necessarily through shops in
the market.
MARKETS
AND
We have seen that small
EQUALITY
traders with little money,
struggle to run their shop
whereas some are able to
spend a lot of money to set
up the shop. They also earn
unequal amounts.
Similarly, buyers are also
different from each other.
There are many who are
not able to afford the
cheapest of goods while
others are busy shopping in
ASSIGNMENT QUESTIONS
1. Tick the correct option :
a. aIn a weekly market the shops are in
1. Permanent building 2. malls
3. Temporary building 4. None of the above
b. From where can we buy the medicines?
2. Weekly market 2. Dairy
3. Chemist shop 4. Groceries
c. Buying and selling in large quantities takes place in
3. Weekly market 2. Mall
3. Wholesale market 4. Cineplex
d. An enclosed shopping space in shops, restaurants and cinema theatres
1. Mall 2. Local market
3. Weekly market 4. Neighbourhood market

2. State whether the following sentences are True or False:

a. Shopping complexes are made in rural areas.
b. Shops in the neighbourhood provide goods even on credit.
c. It is necessary to go to market to purchase goods.
d. Goods in the weekly market are costlier than the ones in the malls.
4. Short answer type questions :
a. Why are branded goods expensive?
b. Discuss about the life of a wholesaler in the city.
c. What are the advantages of weekly market? (slide no. 3)
d. How are the shops in the neighbourhood useful? (slide
no. 5)
5. Long answer type questions :
a. Write a note on chain of markets?(slide no. 7)
b.'Buying and selling takes place in different ways, not
necessarily through shops in the market'.Discuss. (slide
no.8 )
a. Why are branded goods
expensive?
• Branded goods are expensive, because they are often promoted by
advertising and claims of better quality.
• The companies producing these products sell them through shops in large
urban markets and, at times,through special showrooms. This further add
to their cost.
• As compared to non-branded goods, fewer people can afford to buy
branded ones.

b. Discuss about the life of a wholesaler in the city.