NCERT Solutions for Class 7 Social Science Civics Chapter 7 Markets Around Us

A weekly market is so called because it is held on a specific day of the week. Weekly markets do not have permanent shops. 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. There are thousands of such markets in India. People come here for their everyday requirements.

The main advantages of weekly market are that most things you need are available at one place.
Whether you want vegetables, groceries or cloth items, utensils – all of them can be found here. You do not have to go to different areas to buy different things. People also prefer going to a market where they have a choice and a variety of goods.

Shops in the neighbourhood are useful in many ways. They are near our home and we can go there on any day of the week. Usually, the buyer and seller know each other and these shops also provide goods on credit.

There are other markets in the urban area that have many shops, popularly called shopping complexes. These days, in many urban areas have large multi-storeyed air-conditioned buildings with shops on different floors, known as malls. In these urban markets, you get both branded and non-branded goods. The companies producing these products sell them through shops in large urban markets and, at times, through special showrooms. As compared to non-branded goods, fewer people can afford to buy branded ones.

So far we have seen different marketplaces where people buy and sell a variety of goods and services. All these markets are in a specific locality and work in a particular manner and time. However, 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 these days through the Internet, and the goods are delivered at your home. Thus, buying and selling takes place in different ways, not necessarily through shops in the market.

A chain of markets is formed starting from wholesale markets to retail shop owners who sell directly to the consumers. In between wholesale markets and retailers there are medium and big traders. For example, a hawker or retailer purchases plastic items from a wholesale-trader in the town. The town wholesaler, in turn, buys from a bigger wholesale trader in the city. The city wholesale trader buys a large quantity of plastic items directly from the factory and stores them in their godown. Thus, a chain of market is formed. A chain of market serves the purpose of producer and consumers. Because neither a producer can sell a small quantity of goods to an individual consumer nor an individual consumer can buy large quantity of goods from producers. So, wholesale traders, retailers, etc. are required to link the producers and consumers

All persons have equal rights to visit any shop of their choice in a marketplace. It does not matter whether the shop is expensive with expensive items or an ordinary shop selling cheap items. We are free to visit any shop and see different products and buy if the price suits our pockets. We can explain this point through an example. Kavita and Sujata went to Anzal Mall. They entered a shop that was selling branded ready-made clothes. They looked at some of the dresses and then looked at the price tag. None of them was less than ₹ 2000, almost five times the weekly market price. The price did not suit their pockets. Hence they went to another shop.

‘Buying and selling can take place without going to a market Place.’ This statement is true at present scenario of new trend in marketing. Technology has changed the traditional concept of marketing by manual presence in the marketing to buy and sell anything. Now-a-days, it is not necessary to go to the market to purchase goods. Anyone can place orders for a variety of things through the phone or the Internet and the goods are delivered at the home or place where needed. In clinics and nursing homes we see now-a-days, sales representatives waiting for doctors or taking orders at shops for different goods or medicine. Thus buying and selling takes place in different ways, not necessarily through shops in the market.