NCERT Class 7 Civics Chapter 7 Notes covers all the topics in a simplified and precise way. NCERT Class 7 Civics Chapter 7 Notes are easy to understand and learn for exams.
NCERT Class 7 Civics Chapter 7 Notes
There are different types of marketplaces from where we can purchase a variety of things of our need. These can include
>> Hawker’s Stalls
>> Street Vendors
>> Weekly Market
>> Large Shopping Complexes
>> Online Shops
>> Held on a specific day of the week.
>> Don’t 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.
Goods are available at a cheaper price in weekly markets because:
(1) Shops in weekly markets are not permanent and they don’t have to pay for rents, electricity bills, or any other expenses.
(2) Family members work together in such shops. So, workers are not hired and salaries are also not paid.
(3) There is competition among the sellers and goods are cheaply available after bargaining.
(4) The quality of goods is also lower in weekly markets.
People go to the weekly market because:
(1) Most of the things from daily needs are available in one place. People don’t have to go to different places.
(2) Rates are cheaper.
(3) People have a variety and a choice of goods.
>> These are permanent shops. They are near our home and we can go there on any day of the week.
>> Others sell their goods on the roadside.
>> Usually, the buyers and seller know each other and these shops also provide goods on credit.
>> There are different kinds of sellers even in the neighborhood markets.
Shopping Complexes and Malls
>> Group of shops popularly called shopping complexes.
>> 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.
Branded products are expensive as they are claimed to have better quality and are promoted through advertisements.
The companies producing these products sell them through shops (showrooms) in large urban markets.
Chain of Markets
>> Producers manufacture the goods in factories or on farms.
>> Wholesale Traders purchases goods in bulk from the producers.
>> Small Traders purchase goods in bulk from wholesale traders.
>> Retailers purchase goods in bulk from the small traders.
>> Consumers purchase goods and use them.
A chain of markets is a series of markets through which goods pass from producers to consumers.