RBSE Class 7 Social Science Notes Civics Chapter 7 Markets Around Us

These comprehensive RBSE Class 7 Social Science Notes Civics Chapter 7 Markets Around Us will give a brief overview of all the concepts.

RBSE Class 7 Social Science Notes Civics Chapter 7 Markets Around Us

→ Weekly market:

• A weekly market is so called because it is held on a specific 'day of the week.
• Traders set up shops for the day and then close them up in the evening.
• Then they may set up at a different places the next day.
• People come here for their everyday requirements.
• Many things in weekly markets are available at cheaper rates.
• One of the advantages of weekly markets is that most things you need are available at one place.

→ Shops in the neighborhood:

• Many of these are permanent shops, while others are roadside stalls.
• These shops provide us a variety of services and goods, such as milk from dairy, groceries from grocery stores, paper pens from stationery shops and medicines from drug stores. The shops of these goods are fixed and permanent.
• Shops of fruits, vegetables and car mechanic, etc. are located on the pavement along the road. 
• From these shops, we can purchase goods on any day of the week, anytime.

→ Shopping complexes and malls:

• There are other markets in the urban area that have many shops, popularly called shopping complexes.
• These days, in many urban areas, you also have large multi-storeyed air- conditioned buildings with shops on different floors, known as malls.
• In these urban markets, you get both branded and non-branded goods. Branded goods are expensive, often promoted by advertising and claims of better quality.

→ Chain of markets:

• The people in between the producer and the fined consumer are the traders.
• The wholesale trader first buys goods in large quantities. He sells them to other traders.
• The trader is the last in a long chain of traders is the trader who finally sells this to the consumer, is the retailer.
• In this way a chain of markets is formed.

→ Markets everywhere:

• There are different types of markets in different places, where different kinds of goods are bought and sold.
• These markets operate in their own way at their own places and times.
• In present days you can place orders through phones or internet and the goods are delivered to your home.
• Some markets are not directly visible to us, because we do not directly use the things sold and bought here, such as fertilizers.

→ Markets and equality:

• There is a big difference between small and big shopkeepers onf'the basis of capital and income.
• Buyers also have different conditions depending on their ability to buy cheap and expensive goods. Thus, whether we can be buyers or sellers in these different markets depends, among other things, on the money that we have.