DAV Class 7 SST Chapter 23 Question Answer Markets Around Us

DAV Class 7 SST Chapter 23 Question Answer Markets Around Us explores the solutions to the exercises, given in the textbook “We and Our World Book”. Class 7 Social Science DAV Solutions of Chapter 23 provided at the end of the chapter will be a useful resource for Class 7 dav school exams. Here at solutiongyan, we provide complete solutions of DAV Class 7 Social Science chapter 23 History of We and Our World Book.

DAV Class 7 SST Chapter 23 exercise contains 5 questions and the answers to them are provided in the DAV Class 7 SST Chapter 23 Question Answer Markets Around Us. These Solutions of DAV Class 7 Social Science help to boost the writing skills of the students, along with their logical reasoning. Students can go through chapter 23 solutions to learn an effective way of expressing their answers in the exam.

DAV Class 7 Civics Chapter 23 Markets Around Us Solutions

DAV Class 7 SST Chapter 23 Question Answer: DAV Class 7 Social Science Book question answer of Chapter 23 Markets Around Us is given below. Here DAV Class 7 SST chapter 23 Question Answer is provided with detailed explanation.

• Highlights
• Tick the correct option
• Fill in the blanks
• Match the following
• Answer the following questions in brief
• Answer the following questions

A. Tick the correct option.

1. Where do most people prefer to go to fulfil their day-to-day requirements?

Answer: phadi market/a neighbourhood market

2. A democratic government is committed to protect the interests of-

Answer: all sections of the society

3. The price of goods in a market is determined by the factors like-

Answer: demand by the consumers

4. Wages of people working in a market are low as-

Answer: the workers are more but work is less.

5. Which one of the following statements about a democratic government is false?

Answer: It provides equal distribution of wealth.

B. Fill in the blanks.

1. A ___________ sells goods at a higher price.

2. From wholesale market we buy items that can be ___________ for a longer time.

3. The Public Distribution System ensures the distribution of rice, wheat and sugar at a ___________ rate for the poor.

4. A democratic government is committed to protect the ___________ of all sections of the society.

5. Market also determine the ___________.

Answer: (1) retailer (2) stored (3) reasonable (4) interests (5) wages.

C. Match the following:

Answer: (1) d, (2) c, (3) b, (4) e, (5) a

D. Answer the following questions in brief.

1. Define a market. Name different kinds of markets.

Answer: A market can be defined as a place where buyers and sellers engage in the activity of sale and purchase of goods. Different kinds of markets are- Wholesale Market, Retail Market, weekly markets, shops in the neighbourhood, etc.

2. State the result of competition among workers.

Answer: Competition among workers tends to lower the wages. If any one worker demands a higher wage, the employer can remove him and simply hire another at a low wage.

3. Why is there a difference in prices between a wholesale and a retail market?

Answer: It is because a wholesaler buys directly from the producers or the manufacturers and therefore, he sells goods at lower price. But a retailer buys from the wholesaler and adds the cost of transportation, time, storage charges etc. to the price of goods. So, he sells goods at a higher price.

4. Mention three benefits of shopping in a weekly market.

Answer: Three benefits of shopping in a weekly market are:

• The goods are cheaper here.
• The customers are free to bargain.
• People go to such markets as most things of daily use are available at one place.

5. What is economic inequality?

Answer: Economic inequality means inequality of economic assets and incomes among individuals and groups within a society.

E. Answer the following questions.

1. Do you buy different types of goods from different markets? Support your answer with two examples.

Answer: Yes, I buy different types of goods from different markets.

Examples:

• We buy goods in bulk and save money from wholesale market.
• We buy goods of daily use from weekly markets or retail stores.

2. How does market create inequalities that harm democracy?

Answer: Market create economic inequality which means inequality of economic assets and incomes among individuals and groups within a society. It creates inequality of opportunity. Competition in markets ruined the weaker Section of society.

3. Explain the terms ‘demand’ and ‘supply with an example from our daily life.

Answer: Demand- The demand for a good is defined as an amount of commodity for which people are willing to pay and buy.

Supply- Supply of a good is the quantity that the suppliers are willing to put in the market.

Example: When the price of a good rises, the supply also rises. When the price goes down, the supply also goes down.

4. Describe the role played by the government in protecting the interests of all sections of the society.

Answer: The role played by the government in protecting the interests of all sections of the society are:

• The government has fixed ‘minimum wages’ so that the workers are able to fulfil their basic needs.
• The government ensures the distribution of rice, wheat, sugar and kerosene at a reasonable rate for the poor under the Public Distribution System (PDS).
• The government also announces the support price for the crops to safeguard the interest of the farmers and save them from the exploitation by the moneylenders, village touts, wholesalers and retail giants.
• The government also provides electricity, irrigational facilities, technical assistance, loan and insurance facilities at subsidised rates.

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?

Answer: In a weekly market, plastic bucket is sold at a lower price but in mall we have to pay a higher price for the same thing.

The reasons behind the difference in price is that the goods are cheaper in weekly market as no expenditure is incurred on maintaining permanent shops like rent, electricity, etc. The customers are also free to bargain.

In weekly market the shopkeeper stores his goods at home and transports and sells them himself or with the assistance of the members of his family. On the other hand, mall have a chain store, whose owner spends a lot of money on decorating, maintaining and stocking it. That is why goods are costlier in mall.