Very Short Answer Type Question
1. Why is a weekly market called so?
Answer: A weekly market is called so because it is held in a specific day of the week.
2. Why is there a competition among the shops in the weekly market? [V. Imp.]
Answer: In the weekly market there are many shops that sell the same goods. This creates competition among them.
3. Who is Scuneer? What does he do?
Answer: Sameer is a small trader in the weekly market. He buys clothes from a large trader and sells them in six different markets in a week.
4. Give some examples of roadside stalls.
Answer: Vegetable hawker, fruit vendor, mechanic.
5. How are shops in the neighbourhood useful?
Answer: These types of shops are close to our home and we can go there any time. As the buyer and seller know each other these shops also provide goods on credit.
6. Where are goods produced?
Answer: Goods are produced in factories, on farms and in homes.
7. Why do we not buy directly from the producer? [V. Imp.]
Answer: It is because the producer is not interested in selling goods in small quantities.
8. Who is a retailer? [Imp.]
Answer: A retailer is a small trader who buy goods from the wholesale trader and sells this to the consumer.
9. Who is Aftab?
Answer: Aftab is a wholesaler in the city. He purchases vegetables in bulk and sells them to hawkers and shopkeepers.
10. How are buyers different people?
Answer: There are many buyers who cannot afford evan the cheapest of goods. While others frequently visit malls and buy different items.
11. What is done in the wholesale markets?
Answer: This is where goods first reach and are then supplied to other traders.
Short Answer Type Questions
1: Explain the conditions of employment as well as the wages of workers in the garment exporting factory.
Answer: The conditions of employment and wages of workers in the garment factory can be described as mentioned below:
Conditions of employment – unhygienic conditions, no regular service, highly congested place, no job security, no proper arrangement of urinals / bathrooms / drinking water etc.
Wages – very low and unfair wages, no regular job, contract job, unfair deal.
2: Do you think the workers get a fair deal in India?
Answer: The conditions of employment and wages of workers in the garment factory can be described as mentioned below:
Conditions of employment – unhygienic conditions, no regular service, highly congested place, no job security, no proper arrangement of urinals / bathrooms / drinking water etc.
Wages – very low and unfair wages, no regular job, contract job, unfair deal.
3: How garment exporting factories maximise their own profit?
Answer: They maximise their own profits by getting maximum work from workers at lowest price and supply the foreign buyers at cheap rates
4: Merchants hold lot of power. Explain how
Answer: Weaver weaves clothes that have been made on order from the merchant. Merchant also provide them yarn to weave clothes.
5: In what way weavers dependent upon cloth merchants?
Answer: Weaver weaves clothes that have been made on order from the merchant. Merchant also provide them yarn to weave clothes.
6: Differentiate between a large farmer and a small farmer.
Answer: A Large farmers sell their crop to the crop market at higher prices. Their situation is quite different from poor and small farmer because a small poor farmer needs to borrow money for cultivation and at the other time of exigencies. They have to sell their crops to the traders as they took loan from them and had no bargaining power. Large farmers don’t depend on others for money to start cultivation.
Long Answer Type Questions
1: Where do you think the large farmers would sell their cotton? How is their situation different from small and poor farmers?
Answer: Large farmers would sell their cotton to the cotton market at higher prices. Their situation is quite different from poor and small farmer because unlike them, A small poor farmer needs to borrow money for cultivation and at the other time of exigencies. They have to sell cotton to the traders as they took loan from them and had no bargaining power. Large farmers don’t depend on others for money to start cultivation.
2. 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.
3. What is the job of a wholesale trader? [V. Imp.]
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.
4. How are shop owners in a weekly market and those in a shopping complex very different people? [V. Imp.]
Answer: Both are undoubtedly different people.
(a) 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.
(b) 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.
5. 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.
6. Do you see equality in the market? If not, why not? Explain with examples. [V. Imp.]
Or
Write in brief on ‘market and equality’.
Answer: We do not see equality in the market. Big and powerful business persons earn huge profits while small traders earn very little. For example, the shop owners in a weekly market and those in a shopping complex are two different people. One is a small trader who has little money to run the shop. Whereas the other has a lot of money to spend on the shop. The earning of these two people is also unequal. The weekly market trader earn little profit whereas the shopping complex owner gains huge income.
Not only the shop owners are different people, but also the buyers. In the market we see different types of buyers There are several buyers who Eire not able to afford even the cheapest of goods white others are busy shopping different luxurious items in malls. Thus, we see no equality in the market place.
