Question

(I) Fill in the blanks :-


1. Goods are produced in ____________ , on ____________and in _____________.


2. The weekly market trader earns little compared to the _____________ of a regular shop owner in a shopping complex.


3. People in urban areas can enter markets without stepping out of their homes via ____________.


4. Shops in neighbourhood often give goods to their regular customers on ____________.


5. Malls sell expensive and ______________.


(II) Answer the following :-


1. Why is weekly market so called ?


2. Name some roadside stalls.


3. Why branded goods are expensive as compared to non-branded goods ?


4. Why don’t we buy directly from the factory or from the farm?


5. Who is a retailer? Give some examples.


6. How are shops in neighbourhood useful to us?


7. Why is a wholesale trader necessary?


(III) True or False :-

1. When things are sold, it encourages production and new opportunities are created for people to earn.


2. People use their visiting cards to make ‘online purchases’.


3. Shops in the neighbourhood are useful in many ways.


4. People who buy and sell thing in bulk are called retailers.


5. The people in between the producer and final consumer are traders.​

Answer 1

Answers:-

(I) Fill in the blanks:-

1. Goods are produced in factories, on farms and in homes.
2. The weekly market trader earns compared to the profit of a regular shop owner in a shopping complex
3. People in urban areas can enter markets without stepping out of their homes via the internet.
4. Shops in neighbourhood often give goods to their regular customers on credit.
5. Malls sell expensive and Branded.

(III)True or false:-

1. When things are sold, it encourages production and new opportunities are created for people to earn. True
2. People use their visiting cards to make ' online purchases'. False
3. Shops in the neighbourhood are useful in many ways. True
4. People who buy and sell thing in bulk are called retailers. False
5. The people in between the producer and final consumer are traders. True.

Answer 2

Fill in the blanks :-

1. Goods are produced in factories, on farms and in homes.

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

3. People in urban areas can enter markets without stepping out of their homes via the Internet.

4. Shops in neighbourhood often give goods to their regular customers on credit.

5. Malls sell expensive and branded goods.

_____________________________

Answer the following :-

1. Why is weekly market so called?

Ans. A weekly market is so called because it is held on a specific day of the week.

2. Name some roadside stalls.

Ans. Some roadside stalls are vegetable hawker, the fruit vendor and the mechanic.

3. Why branded goods are expensive as compared to non-branded goods?

Ans. Branded goods are often promoted by advertising, which costs a lot and thus they are expensive.

4. Why don't we buy directly from the factory or from the farm?

Ans. We don't buy directly from the factory or from the farm because producers would not be interested in selling us small quantities such as one kilo of vegetables or one plastic mug.

5. Who is retailer? Give some examples.

Ans. The trader, who finally sells goods to the consumer, is the retailer. This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex.

6. How are shops in neighbourhood useful to us?

Ans. Shops in the neighbourhood are useful in many ways. They are near our home and we can go there on any day of the week. Usually, the buyer and seller know each other and these shops also provide goods on credit.

7. Why is a wholesale trader necessary?

Ans. The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. These will then be sold to other traders. In these markets, buying and selling takes place between traders. It is through these links of traders goods reach faraway places.

____________________________________

True or False :-

1. When things are sold, it encourages production and new opportunities are created for people to earn. True

2. People use their visiting cards to make 'online purchases'. False

3. Shops in the neighbourhood are useful in many ways. True

4. People who buy and sell thing in bulk are called retailers. False

5. The people in between the producer and final consumer are traders. True

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