DAV Class 7 SST Solution Chapter 23 Markets Around Us
DAV School Books Class 7 SST Solution Chapter 23 Markets Around Us all Question Answer. DAV Class 7 23th Chapter Markets Around Us full Chapter explanation by expert teacher.
DAV School Books Class 7 SST Solution Chapter 23 Markets Around Us
A.) Tick the correct option
1.) Where do most people prefer to go to fulfill their day to day requirements?
(a) phadi market
(b) a popular store
(c) a mall
(d) a neighbourhood market
Ans – (d) a neighbourhood market
2.) A democratic government is committed to protect the interests of
(a) the minorities
(b) women and children
(c) SCs, STs and OBCs
(d) all sections of the society
Ans –(d) all sections of the society
3.) The price of goods in a market is determined by the factors like
(a) demand by the consumers
(b) requirement of the manufacturers
(c) variety of goods available
(d)import and export restrictions
Ans – (a) demand by the consumers
4.) Wages of people working in a market are low as-
(a) government is not paying attention.
(b) their employers are exploiting them.
(c) the workers are more but work s less.
(d) their wages have not been fixed by government.
Ans – (d) their wages have not been fixed by government.
5.) Which one of the following statements about a democratic government is false?
(a) It provides opportunites to ensure equitable distribution of goods.
(b) It provides facilities to eradicate social inequalities.
(c) It provides all types of service to all the citizens.
(d) It provides equal distribution of wealth.
Ans – (d) It provides equal distribution of wealth.
D.) Answer the following questions in brief.
1.) Define a market. Name different kinds of markets.
Ans – Market – It is a place rather a platform where both buyers and sellers are involved in an activity based on a product. Sellers here try to sell the product where as buyers try to purchase it. Both are interrelated and depended on each other.
There are two kinds of market-wholesale and retail market.
2.) State the result of competition among workers.
Ans – Competition among the workers arises in that kind of places where the rate of supply of the workers are high but the demand is low. In that case automatically rate of wages become low and if necessary recession can be happened.
3.) Why is there a difference in prices between a wholesale and a retail market?
Ans – The price of products are deferent in whole sale and retail market because wholesalers are selling products after purchasing it directly from the producers. They don’t need to add any extra charges of transportation, investment, profit , storage etc.like retail sellers. Retail sellers buy the products from the wholesale market.
4.) Mention three benefits of shopping in a weekly market.
Ans – Benefits of shopping in a weekly market-
- Price of products are cheaper than the other permanent markets as they don’t have to pay rent , electricity charges etc.like permanent one .
- So many daily usage products are available in one particular place.
- Customer satisfaction rate is high as they y free to bargain and mostly get the chance to buy the product at a negotiable rate.
5.) What is economic inequality?
Ans- Economic inequality- Economic inequality is a result of unequal opportunity. If there is a discrimination among the people on their assets and inequality of income is also prevailing, it automatically results in economic inequality in the society.
E.) Answer the following questions.
1.) Do you buy different types of goods from different markets? Support your answer with two examples.
Ans – Previously there are different types of markets for different types of goods and customers have to move and search their wished product by roaming here and there. Which was very time taking and expensive too. But now a days for the availability of shopping malls and departmental stores , customers get the chance to buy different products from a single market place ,which is very economical and time saving. For example in shopping malls we can get both food products and clothes together.
2.) How does market create inequalities that harm democracy?
Ans – Market creates inequality in many ways. For example weekly markets are different from the chain stores. Here the sellers of the weekly markets do not have that much capital to give a well decorated stores and attract customers. They sell their products by taking help from their family members from an impermanent stores given in the weekly markets. On the other hand those shopkeepers have the monetary strength give a well decorated shop in a popular and well populated area. Automatically customers for both the shops are different. It shows the social and economic inequality against our democratic values. Moreover economic inequality prevails because of the unequal opportunity in the work places, where the rate of supply of the workers are high but the demand is low. In that case automatically rate of wages become low and if necessary recession can be happened.
3.) Explain the terms ‘demand’ and supply’ with an example from our daily life.
Ans – Demand and Supply are the factors of the price of the product. ‘Demand’ means wish for a product of the customers and ‘Supply’ means quantity of goods put by the producers or the suppliers into the market. The price of products are dependent on both of these factors. For example if the rate of supply is high and demand is low price of a product will also become low. Again if the demand is high and supply is low automatically price hike is must.
4.) Describe the role played by the government in protecting the interests of all sections of the society.
Ans – To protect the interests of all sections of the society Government has taken many steps.1. Fixed minimum wages for all the workers. 2. Employment exchange for the unemployed candidates. 3. Minimum support price of the crops to save the farmers from getting exploited by the money lenders.4. Distribution of sugar, rice,wheat, kerosene under Public Distribution System to help the poor. 5. Free electricity, irrigational facilities, insurance facility etc. to help the needy.
5.) Compare the price of a plastic bucket from a weekly market and a mall. What are the reasons behind the difference in price and why?
Ans – Price of a plastic bucket bought from the weekly market is different and low from the mall because- there is no permanent shop for the product like a mall and no expenditure is incurred by the shopkeeper like the shopkeeper of the mall ,who has to pay rent electricity charges, maintenance charges, transportation value, wages for the workers etc. The cost of the product will be automatically high to meet all these charges.