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Question 13 Marks
Elaborate on way examples of ay two advertisement in your own words.
Answer
  1. Social advertisement refer to advertisements made by the State or private agencies that have a larger message for society. The following are two social advertisement.
  2. Social advertisements educational right of disabled children.
  3. Social advertisement regarding crossing of unmanned railway crossings.
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Question 23 Marks
Write a short note on shopping complexes and malls.
Answer
There are other markets in the urban area that have many shops, popularly called shopping complexes. These days, in many urban areas, we also have large multi-storeyed air-conditioned buildings with shops on different floors, known as malls. In these urban markets, we get both branded and non-branded goods. Branded goods are expensive, often promoted by advertising and claims of better quality. The companies producing these products sell them through shops in large urban markets and, at times, through special showrooms.
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Question 33 Marks
How are shop owners in a weekly market and those in a shopping complex very different people?
Answer
Both are undoubtedly different people.
  1. The shop owners in a weekly market are small traders who run their shop with little money. On the other hand the shop owners of a shopping complex are big parties. They have a lot of money to spend on their shops.
  2. What these two types of shop owners earn is also not equal. The weekly market trader earns little compared to the profit of a regular shop owner in a shopping complex.
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Question 43 Marks
How are shops in the neighbourhood useful?
Answer
  1. Shops in the neighbourhood are useful since they are located at short distances, they are reachable and accessible as and when required.
  2. Usually, the buyers and sellers are familiar and sometimes, sellers give goods on credit.
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Question 53 Marks
Mention any three drawbacks of advertising.
Answer
  1. In a democracy in which all people are equal and should be able to lead a life of dignity advertising tends to promote a certain lack of respect for the poor. They are not the aces we most often see in advertisements and so we tend to dismiss their lives as worthless.
  2. Advertising because it appeals to personal emotions also tends to make people who cannot afford certain brands feel bad.
  3. They feel that are unable to give their loved ones the best care that brand product appear to offer.
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Question 63 Marks
What is a chain of market? Do you think that everyone gains equally in the market?
Answer
A series of markets that are connected like links forms chain of market. Products passes from one market to another. Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Everyone do not get equally in a market.
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Question 73 Marks
From where do you think shop-owners procure their goods?
Answer
Goods are produced in factories, on farms and in homes. However, we don’t buy directly from the factory or from the farm. Nor would the producers be interested in selling us small quantities such as one kilo of vegetables or one plastic mug. 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 that goods reach faraway places. The trader, who finally sells this to the consumer, is the retailer.
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Question 83 Marks
Write a brief note on 'Aftab- the wholesaler in the city'.
Answer
Aftab is a wholesaler of vegetables. His work usually starts around 2 o'clock in the early morning. This is the time when vegetables reach the market or mandi and with them start the activities. The vegetables come in trucks, matadors, etc. and soon the process of auctions begins. Aftab participates in this auction and decides what he will buy. He buys vegetables in bulk. After that he sells them to hawkers and shopkeepers who usually come to him around six in the morning.
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Question 93 Marks
What is the job of a wholesale trader?
Answer
A wholesale trader buys goods from the producer in large quantities. He then sells them to other traders, say small traders. These small trader sell different items to the final consumer. Thus, the wholesale trader establishes link between the producer and the consumer. It is through these links of traders that goods reach faraway places.
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Question 103 Marks
What are the unique features of a weekly market?
Answer
  1. A weekly market is so-called as it is held on a specific day of the week.
  2. They do not have permanent shops. Traders set up shops for the day and then close them up in the evening.
  3. They may then set up the market at a different place the next day.
  4. There are thousands of such markets in India where people come for their everyday requirements.
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Question 113 Marks
What are shops in the neighbourhood?
Answer
  1. There are many shops in the neighbourhood which sell goods and services.
  2. We can buy milk from the dairy, grocery from the departmental store, stationery, eatables or medicines from other shops.
  3. Many of these are permanent shops, while others are roadside stalls like vegetable hawkers, mechanic and fruit vendors, etc.
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Question 123 Marks
Write in brief about shopping complexes and malls.
Answer
Shopping complexes and malls are usually found in urban areas. These are large multi-storeyed air-conditioned buildings with shops on different floors. These shops sell both branded and non-branded goods. Fewer people visit malls because they sell costly items. Only well-to-do people can afford to buy these items.
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Question 133 Marks
Why do people go to a weekly market? Give three reasons.
Answer
People go to a weekly market because of the following reasons:
  1. Many things in weekly markets are available at cheaper rates.
  2. Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available more cheaply or where the buyer can bargain and bring the price down.
  3. Most things we need are available at one place. Whether we want vegetables, groceries or cloth items, utensils – all of them can be found here. We do not have to go to different areas to buy different things.
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Question 143 Marks
What do the terms wholesale and retail refer to?
Answer
Wholesale refers to buying or selling goods in large quantity like fruits, vegetables, flowers, kitchen items etc.
Retail means buying the goods in smaller quantity from the wholesaler and sell it in the local markets to the consumers.NOTES: STORY OF AFTAB– Wholesaler In The City
  • Aftab a wholesaler starts his business around 2.am
  • Vegetables reaches the mandi from nearby areas
  • He participates in the auction for selecting which vegetables to buy
  • He stores these vegetables in his shop and further sells it to hawkers or shopkeepers.
  • These retailers come to the mandi around 6 am and reach their own areas by 10 in the morning.
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Question 153 Marks
Why weekly markets are cheaper than permanent shops?
Answer
Permanent shops have to incur a lot of expenditure like shop rent, electricity, fees to the government etc., but a weekly market shop owner don’t have to bear these expenses. Permanent shops holder also have to pay wages to their workers but weekly market shop owner have helpers from their family members, and thus they don't need to hire workers. And are cheaper than permanent shops.
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Question 163 Marks
Write a note on shopping complexes and malls.
Answer
  1. Malls and shopping complexes are the large, multi-storeyed, airconditioned buildings where both branded and non-branded goods are available.
  2. However, the cost of these goods may not be as cheap as those available in the neighbourhood or weekly markets.
  3. Purchasing goods from the malls depends upon the affordability of the customers.
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Question 173 Marks
‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.
Answer
This is the age of Internet. It has changed the mode of everything. We can now make on-line purchases with the help of credit cards. We can place orders through the Internet and the goods are delivered at our place.
In clinics and nursing homes we usually notice medical representatives waiting for doctors. These medical representatives are also engaged in selling goods. Thus, buying and selling takes place in different ways, without going to the market.
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Question 183 Marks
Write a short note on social advertising.
Answer
  1. Social advertisement refer to advertisement made by the State or private agencies that have a larger message for society. The following are two social advertisement that have a larger message for society. the following are two social advertisement.
  2. Social advertisement regarding educational right of disabled children.
  3. Social advertisement regarding crossing of unmanned railway crossings.
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Question 193 Marks
Is there equality in the market? Justify your answer with the help of suitable example.
Answer
Shop owners in a weekly market and those in a shopping complex are very different people. One is a small trader with little money to run the shop whereas the other is able to spend a lot of money to set up the shop. They also earn unequal amounts. The weekly market trader earns little compared to the profit of a regular shop owner in a shopping complex. Similarly, buyers are differently placed. There are many who are not able to afford the cheapest of goods while others are busy shopping in malls. Thus, whether we can be buyers or sellers in these different markets depends, among other things, on the money that we have.
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Question 203 Marks
Establish relationship between the market and the inequality?
Answer
Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Thus it forms an inequality amongst people.
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Question 213 Marks
Why do people not bargain in shops located in malls whereas they bargain in weekly markets?
Answer
People do not bargain in shops located in malls whereas they bargain in weekly markets because malls sell expensive and branded goods at the fixed price rate. The rates of products sold in malls are generally high due to addition of establishment cost that are added up like security charge, govt. service charges sale taxes, rent of the shop electricity charges, wages of the hired labours etc.
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Question 223 Marks
There are two types of sellers in the market, one in the weekly market and other in the shopping complex.
Answer
There are two types of sellers in the market, one in the weekly market and other in the shopping complex.
Small trader has little money whereas the other has more money to set up their shops. They earn unequal amounts. The weekly market traders earns little as compared of a regular shop owner in a shopping complex.
Even buyers are also differently placed. There are some who can not afford cheapest of goods and some shop in malls. Therefore these markets depend on money as buyers or sellers.
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Question 233 Marks
Why do we go to markets?
Answer
  • We go to market to buy many things.
  • They are vegetables, soap, toothpaste, masala, bread, rice, daal, clothes, notebooks, biscuits etc.
  • The list of our purchases is really long.
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Question 243 Marks
Why are weekly markets cheaper than other markets?
Answer
  1. Weekly shops supply cheap products since they do not have permanent buildings. They do not have to pay rent or pay high electricity charges, etc.
  2. Moreover, most shop owners store things at home and are helped by family members. So, they don’t have to hire workers.
  3. Further, as there are many sellers of the same product, there is a competition and people are able to bargain.
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Question 253 Marks
What are the advantages of weekly markets?
Answer
People go to the weekly market because of the following reasons:
  • They get all things of their use at one place.
  • The prices are less and bargaining can be done.
  • They can buy goods in smaller quantities.
  • People prefer weekly market because they get variety and choice of goods.
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Question 263 Marks
Explain how a chain of markets is formed. What purpose does it serve?
Answer
Goods are produced in factories, on farms and in homes. However, we don’t buy directly from the factory or from the farm. Nor would the producers be interested in selling us small quantities such as one kilo of vegetables or one plastic mug. 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 that goods reach faraway places. The trader who finally sells this 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.
It serves a great purpose as it is through these links of traders that goods reach faraway places. It provides employment to large number of people. Factories and producers need not to find their customer directly. It maintains flow of money in the society.
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Question 273 Marks
Write about Aftab - The wholesaler in the city.
Answer
Aftab is one of the wholesale traders who purchases in bulk. His business starts around 2 o’clock in the morning when vegetables reach the market. This is the time when the vegetable market or mandi starts buzzing with activity. The vegetables come in trucks, matadors, tractor trolleys from farms both near and far. Soon the process of auctions begins. Aftab participates in this auction and decides what he will buy. He has a shop in the market where he stores the vegetables that he has bought. From here he sells to hawkers and shopkeepers who start coming to the market around six in the morning. They have to organise their purchases so that they can start their shop for the day around ten in the morning.
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Question 283 Marks
Explain with an example how people bargain in the market. Can you think of a situation where the bargain would be unfair?
Answer
Bargaining is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place.
Example:
Reena asked the shopkeeper “how much this bag for?”
Shopkeeper replied “1000 rupees”.
Reena instantly replied, “400 rupees”.
Shopkeeper laughed and said, “Not possible”.
Reena replied, “700 rupees” and this is the final price.
Shopkeeper replied, “Ok” and hand over the bag to Reena.
Bargaining would be unfair in the following cases:
  1. When the thing we are getting is already at the lowest price and is of good quality.
  2. When the person selling the item is economically weak and his livelihood depends on what he sells.
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Question 293 Marks
‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true of shops with expensive products? Explain with examples.
Answer
‘All persons have equal rights to visit any shop in a marketplace.’ Yes, this is true of shops with expensive products. As a customer we are free to enter any shop and explore different products even if we do not have enough money to buy it.
We can understand this more clearly through an example.
Kavita and Sujata went to Anzal Mall. They entered a shop that was selling branded ready-made clothes. They looked at some of the dresses and then looked at the price tag. None of them was less than Rs. 2000, almost five times the weekly market price. The price did not suit their pockets. Hence they went to another shop.
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Question 303 Marks
What are the two types of sellers in our neighbourhood?
Answer
There are different kinds of sellers even in our neighbourhood markets.
  • Some of them have permanent shops.
  • The others sell their goods on the roadside, as hawkers.
  • Some move from one house to another to sell their goods.
  • Some make home delivery of goods free of cartage charges.
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Question 313 Marks
Compare and contrast a weekly market and a shopping complex on the following:
Market
Kind of goods sold
Prices of goods
Sellers
Buyers
Weekly Market
 
 
 
 
Shopping Complex
 
 
 
 
Answer
Market
Kind of goods sold
Prices of goods
Sellers
Buyers
Weekly Market
Everyday items such as vegetables, clothes, utensils, groceries etc.
Many things in weekly markets are available at cheaper rates.
Small traders
Local people belonging to low income group.
Shopping Complex
Both branded and non-branded goods.
Items sold are expensive.
Big traders and expensive.
People from high income group.
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Question 323 Marks
What are different types of shops in the neighbourhood?
Answer
Weekly markets offer variety of goods. There are other markets also like many shops sell goods and services in the neighbourhood.
  • Chemist/ physician.
  • Tailor/ dry cleaner/ garment shop.
  • Grocery/ departmental store.
  • Hair Saloon/ florist/ sweet shop.
We buy milk, groceries, stationary, eatables, medicines etc. Many of these are permanent. Some of them are roadside hawkers selling vegetables, fruits or flowers.
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Question 333 Marks
Why are things cheap in the weekly market?
Answer
Many things in weekly markets are available at cheaper rates. This is because when shops are in permanent buildings, they incur a lot of expenditure – they have to pay rent, electricity, fees to the government. They also have to pay wages to their workers. In weekly markets, these shop owners store the things they sell at home. Most of them are helped by their family members and, hence, do not need to hire workers. Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available more cheaply or where the buyer can bargain and bring the price down.
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Question 343 Marks
How are the neighbourhood shops managed?
Answer
Neighbourhood shops are generally managed by the owner with helpers:
  • The owners take the list of the items required. The helpers weigh and pack the things
  • The billing is done by the owner.
  • These shops have different products of different brands.
  • They are organised on shelves which are easily visible to the customer.
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Question 353 Marks
In what ways is a hawker different from a shop owner?
Answer
S.No.
Hawker
Shop Owner
1.
They sell their products by travelling form one place to other or at a temporary shop.
They have permanent shops.
2.
They sell non-branded goods.
They sell both branded and non-branded goods.
3.
They do not incur expenditure such as rent, electricity, fees to the government.
They incur a lot of expenditure as they have to pay rent, electricity, fees to the government.
4.
They sell cheaper products.
They sell cheaper as well as costlier products.
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