Market Around Us - Worksheets

 CBSE Work Sheet 01

Market Around Us

  1. It is a market where goods are sold direct to the consumers
    1. National market
    2. Retail market
    3. International market
    4. Wholesale market
  2. Which of the following is false regarding weekly market
    1. In weekly markets, these shop owners store the things they sell at home.
    2. Held on specific day of the week
    3. Many things in weekly markets are available at costly rates
    4. Most of them are helped by their family members and, hence, do not need to hire workers.
  3. In which market goods are sold and purchase in large quantity
    1. Wholesale market
    2. International market
    3. National market
    4. Retail market
  4. The final product reaches the buyers through a
    1. Consumers
    2. Agents
    3. Chain of market
    4. Wholesaler

  5. Shopkeepers procure their goods from

    1. All of these

    2. wholesaler

    3. farms

    4. factories

  6. Match the following :

    (a) Market(i) A market which is held on a particular day of the week
    (b) Retailer(ii) This refers to buying or selling in large quantities.
    (c) Wholesale(iii) A trader who sells things to a customer.
    (d) Weekly Market(iv) Any place that brings together a buyer and a seller to exchange goods
  7. Fill in the blanks:

    The weekly market trader earns __________ compared to the profit of a regular shop owner in a shopping complex.

  8. State true or false:

    In weekly markets, all things are found at one place.

  9. Where are goods produced?

  10. Give some examples of roadside stalls.

  11. Every city has areas for wholesale markets. Discuss.

  12. Discuss the role of wholesaler and retailer.

  13. Markets exist everywhere. Explain.

CBSE Work Sheet 01
Market Around Us

Solution

  1. (b) Retail market Explanation:

    Retail marketing is comprised of the activities related to selling products directly to consumers through various channels

  2. (c) Many things in weekly markets are available at costly rates Explanation:

    Many things in weekly markets are available at cheap rates

  3. (a) Wholesale market Explanation:

    A person who buys products in bulk from factory and may store them in godown, and sell it to other traders.

  4. (c) Chain of market Explanation:

    A chain of markets is formed by the series of exchange of goods from the producer to different traders till they reach the final consumers.

  5. (a)

    All of these

    Explanation:

    All of these

  6. (a) - (iv), (b) - (iii), (c) - (ii), (d) - (i)

  7. little

  8. True

  9. Goods are produced in factories, at farms and at homes.
  10. Vegetable hawker, fruit vendor, mechanic.

  11. Every city has wholesale markets where goods first reach and then supplied to other traders. The retailers and roadside hawkers purchase goods in large quantity from these wholesale traders in town. The city wholesale trader buys these goods in large quantities from the factories and stores them in a Godown. This creates a chain of markets.

  12. Wholesalers and retailers are the people between producers and consumers. A wholesaler is the first who buys goods in large quantities and then sells them to the retailers. The retailer is the trader who finally sells them to the consumers. It is this connection of traders which helps goods to reach far-away places. Thus, a wholesaler is in direct contact with the producer while retailer with consumers.

  13. Markets exist everywhere, i.e. in every locality. Although it is not compulsory for everyone to go to the market to buy goods. Orders can be placed on the phone or through the internet for a variety of things and goods are delivered at our door-steps. For instance, there are sales representatives waiting for doctors in clinics and nursing homes, the persons are involved in the selling of goods. Hence, buying and selling can be done in various ways and not necessarily through shops in market places. There are some markets that we don't recognise because there are goods which are traded but we don’t use them directly. It means we don't normally see buying and selling but only the final product like the car in the showroom.