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Chapter 8 Markets Around Us Solutions

Question - 1 : -
In what ways is a hawker different from a shop owner?

Answer - 1 : -

A hawker is different from a shop owner because the hawker does not have a permanent shop but moves from place to place, selling his goods on the roadside and in weekly markets.

Question - 2 : -

Compare and contrast aweekly market and a shopping complex on the following:

Market

Kind of goods sold

Prices of goods

Sellers

Buyers

Weekly market

Shopping Complex

Answer - 2 : -

Market

Kind of goods sold

Prices of goods

Sellers

Buyers

Weekly market

Cheap everyday requirements

Low

Small traders

People from villages and small towns

Shopping complex

Expensive branded goods

High

Big companies

Rich and upper middle class people from big cities

Question - 3 : -
Explain how a chain of markets is formed. What purpose does it serve?

Answer - 3 : -

A chain of markets is formed when a number of traders supply goods from the producers to the consumers. We thus have wholesale markets where other dealers buy the goods in bulk. These dealers then sell the goods in weekly markets to consumers and thus a chain of markets is formed. The chain serves the purpose of bringing the goods from the producers, who live in far off areas, to consumers in towns and cities.

Question - 4 : -
‘All persons have equal rights to visit any shop in a marketplace.’ Do you think it is true of shops with expensive products? Explain with examples.

Answer - 4 : -

This is not true of shops with expensive products because people who do not have money cannot shop there. Sometimes people who look poor are not entertained at such shops but are politely or sometimes forcibly made to leave.

Question - 5 : -
‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.

Answer - 5 : -

‘Buying and selling can take place without going to the market place.’ This is made possible by the use of plastic money. People can shop online and can pay using their credit cards. The goods are then delivered to their doorstep.

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