Social Science Notes for Chapter 7 Markets Around Us Class 7 - FREE PDF Download
FAQs on Markets Around Us Class 7 Social Science Chapter 7 CBSE Notes - 2025-26
1. What is the main concept to revise in CBSE Class 7 Social Science Chapter 7, 'Markets Around Us'?
The chapter provides a summary of the different types of markets where we buy and sell goods. Key concepts for quick revision include weekly markets, neighbourhood shops, shopping complexes, and the chain of markets. The main idea is to understand how goods travel from producers to consumers through various intermediaries.
2. Can you summarise the key features of a weekly market for revision?
A weekly market is a temporary marketplace held on a specific day of the week. Key features to remember for revision are:
- They do not have permanent shops.
- Traders set up for the day and close in the evening.
- Goods are often available at cheaper rates because traders save on expenses like rent and electricity.
- They offer a wide variety of items in one place, making it convenient for buyers.
3. How does the 'chain of markets' work as a concept?
A 'chain of markets' is the sequence of links through which goods pass from the producer to the final consumer. It typically starts with producers who sell goods in bulk to a wholesaler. The wholesaler then sells these goods in smaller quantities to traders or retailers. Finally, retailers sell the products directly to consumers in various settings like neighbourhood shops or weekly markets.
4. What is the core concept of 'shops in the neighbourhood' explained in the chapter?
The core concept is convenience and personal connection. Neighbourhood shops are permanent stores located close to our homes, offering a variety of goods and services like dairy, groceries, and stationery. A key feature to revise is that these shops often provide goods on credit and have a familiar relationship with their local customers, offering a personalised service that larger markets may not.
5. What is the main difference to remember between a shopkeeper in a weekly market and one in a shopping complex?
The key difference for revision lies in their investment, overhead costs, and customer base.
- A weekly market vendor is a small trader with little investment who caters to buyers looking for low-cost, everyday items.
- A shopkeeper in a shopping complex often sells branded, more expensive items, has high overhead costs (rent, staff), and targets more affluent buyers.
6. For a quick revision, why are items in weekly markets usually cheaper?
Items in weekly markets are generally cheaper primarily because the traders do not have to pay for recurring overheads. They save on expenses like permanent shop rent, electricity bills, and employee wages. Many are family-run businesses. These significant cost savings are passed on to the customers, making the goods more affordable.
7. How do the different types of markets discussed in the chapter reflect economic inequality?
The chapter highlights economic inequality by contrasting different market types. Weekly markets and neighbourhood shops cater to people from all economic backgrounds, offering essential goods at competitive prices. In contrast, shopping malls and large complexes primarily target affluent customers with branded products, higher prices, and a focus on lifestyle over necessity. This distinction showcases the different purchasing powers and consumer segments within society.
8. What is the essential role of a wholesaler in connecting producers and consumers?
The essential role of a wholesaler is to act as a crucial intermediary. They purchase goods in large quantities or bulk directly from producers. They then sell these goods in smaller quantities to numerous retailers. This prevents producers from having to find many individual buyers and allows retailers to stock a variety of items without having to make huge investments or store massive inventories.
9. How do goods produced in one specific area become available for purchase across the entire country?
This is made possible through the extensive chain of markets. Producers sell their products to wholesale traders who have large distribution networks. These traders transport the goods to different parts of the country, selling them to local wholesalers or retailers. This system ensures that a product, whether it's tea from Assam or apples from Himachal, can reach a consumer in any other state, effectively connecting production sites with consumption centres.
10. How has the rise of online shopping changed the concept of a 'market' as described in this chapter?
Online shopping has expanded the traditional definition of a market. While the chapter focuses on physical marketplaces, online platforms act as virtual markets where buyers and sellers connect digitally. This removes the need for a physical location, allowing consumers to purchase goods from anywhere at any time. It has created a market without geographical boundaries, where the 'chain' involves logistics and delivery services instead of physical stalls and shops.
