CBSE CLASS 7 - CIVICS - CH8 - Markets Around Us (Assignment Sheet) (#eduvictors) (#cbseNotes)

Markets Around Us (Assignment Sheet)

VERY SHORT QUESTIONS ANSWERS(1 Marks)

Q1: Who are traders?

Q2: What is a market?

Q3: What are the factors that determine the price of a commodity in the market?

Q4: Define credit.
Q5: Define auctioning.
Q6: What is the basis on which a shopkeeper decides which brand to sell and which not?

Q7: Define inflation.

Q8: Who is a street vendor?
Q9: Highlight the objective of National Policy for Urban Street Vendors.

Q10: Who are the key players in the chain of market?

Q11: What is Minimum Support Price (MSP)?
Q12: What is the main function of the Confederation of Indian Industry?

Q13: What is profit?

Q14: What is the difference between domestic and international goods?

Q15: Name the successful Indian entrepreneur who gave the following quote.

Q16: The price of a product increases every time the product changes hands. Why so?

Q17: Can you name three food retail players in the Indian market?

Q18: What is the motto adopted by Confederation of Indian Industry for 2010-2011?

Q19: What do you mean by Federation of Indian Chambers of Commerce and Industry (FICCI)?

Q20: State the importance of Retailers Association of India.

Q21: Why do traders form associations?

Q22: What are fair price shops?

Q23: Does market only involve exchange of goods?

Q24: Is there any advantage of urban vending?

Q25: Why is a wholesale trader necessary?

Q26: What are the essentials of entrepreneurship?

Q27: What is purchasing power?

SHORT QUESTIONS ANSWERS (2 Marks)

Q28: Who is a whole sale trader?

Q29: Who is a retailer?

Q30: Retail price is higher than the wholesale price. Why so?

Q31: What are shopping complexes?

Q32: What is a weekly market?

Q33: Name one successful entrepreneur from India.

Q34: Who acts as intermediaries between the producers and consumers in the market?

Q35: If you are a retailer selling Chinese goods, would you go to China every month? Where would you get these goods from?

Q36: What are the various expenses incurred by permanent shops?

Q37: What is the difference between retail and wholesale?

Q38: Who is an entrepreneur? What is his most important trait?

Q39: If you are a wholesale trader, what would be your necessary business requirements?

Q40: What is the difference between branded and non-branded goods?