NCERT Solutions for Class 7 Civics Chapter 8 - Markets Around Us

Page / Exercise

Chapter 8 - Markets Around Us Exercise 103

Solution 1

The differences are as follows:

Sr. No.

Hawker

Shop owner

1.

Does not have a permanent shop.

Has a permanent shop.

2.

Has to move from place to place to sell his products.

Does not have to move from place to place. People come to the shop.

3.

Does not keep branded products.

Has branded and non-branded products.

4.

Sells products at a cheaper rate.

Sells products at a costlier price.

5.

Does not spend money on the shop as he keeps on moving around.

Has to spend money on the maintenance of the shop, including paying electricity bills, cleaning etc.

 

Solution 2

Market

Kinds of goods sold

Prices of goods

Sellers

Buyers

Weekly market

Cheap products, inferior quality, non-branded items

Low or cheaper

Small traders

People from villages and small towns, low-income people or groups, labourers

Shopping complex

Expensive branded goods; good quality, branded items

High or costly

Big traders or companies

Rich and upper middle class people from big cities, high-income people or groups

 

Solution 3

A chain of markets is formed in the following manner:

 Goods are produced in factories.

 Wholesalers then buy goods from factories in bulk.

 The wholesalers then sell goods to retailers and hawkers.

 Customers then buy goods from a retailer or a hawker.

Thus, from factories to consumers, a chain of markets is formed.

The purposes served by the chain of markets are

 Products can be bought from nearby places.

 Goods are brought from far off places to serve the needs of consumers.

 Factories do not require searching for their customers.

 Factories need to sell their products in lower quantities.

 Several people are benefitted because of the chain of markets.

Solution 4

All people have equal rights to visit any shop in a marketplace. However, it is not absolutely true and followed. The reasons are:

  • People with low income cannot buy products from those shops as the products are very expensive.
  • People who appear poor are not entertained at such places. They are either softly or harshly told to leave the place.
Solution 5

Buying and selling can take place without going to a marketplace in the following manner:

  • Goods are ordered over the internet, and the amount is paid by plastic money, i.e. either by credit or debit cards.
  • Goods are also ordered over the telephone, and the payment is done when goods are delivered to the customer.