NCERT 7th Class (CBSE) Social Science: Markets Around Us – Quiz
16 Multiple Choice Questions related to NCERT 7th Class (CBSE) Social Science: Markets Around Us – Quiz:
- A market is a place where people need to exchange goods, service and information.
- In olden times, people exchanged goods through barter. To enable exchange on a more even basis, money was invented.
- The movement of a product from the manufacturer to the consumer involves various stages-marketing, production, transportation, storage, selling and after-sale services.
- There are different types of markets-weekly markets, neighborhood markets, supermarkets, malls and online stores.
- Most goods are sold either through wholesalers or through retailers. Some goods are sold directly to the consumer by the producer.