G7-SOC-L12 Markets Around Us

What are the main sources of income mentioned in the text?

• Salaries, wages, and profits
• Rents, interest, and investments
• Shares and dividends
• All of the above

Which of the following is NOT a type of physical market mentioned in the text?

• Local markets
• Regional markets
• Global markets
• National markets

What is the main advantage of neighborhood shops according to the text?

• They offer the lowest prices
• They are open 24/7
• They are near to our homes
• They only sell branded goods

What is a unique feature of weekly markets?

• They are permanent
• They operate every day
• They are held on a particular day of the week
• They only sell luxury goods

When was Rythu Bazar started in Andhra Pradesh?

• January 1998
• January 1999
• January 2000
• January 2001

What is the main purpose of Rythu Bazar?

• To increase prices for consumers
• To benefit middlemen
• To benefit farmers and avoid middlemen
• To promote only organic produce

What type of goods are typically more expensive in shopping malls?

• Non-branded goods
• Local products
• Branded goods
• Wholesale items

What is e-commerce?

• A type of physical market
• A business platform for buying and selling over the internet
• A government-run market
• A weekly market

Who are typically not interested in selling their products in small quantities?

• Retail shop owners
• Consumers
• Industrialists and farmers
• Street vendors

What is the role of traders in the chain of markets?

• They are the final consumers
• They are the producers of goods
• They act as intermediaries between producers and consumers
• They regulate market prices