This quiz works best with JavaScript enabled. Home > Cbse > Class 7 > Civics > Markets Around Us > Class 7 Civics Chapter 7 Markets Around Us – Quiz 1 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 7 Civics Chapter 7 Markets Around Us Quiz 1 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. 3 ..... are not interested in selling us small quantities. A) Wholesaler. B) Retailer. C) Producers. D) Vendor. Show Answer Correct Answer: C) Producers. 2. ..... are agricultural markets, where farmers can get the best price for their yield. A) Neighbourhood market. B) Mandi. C) Weekly Market. D) Weeekly market. Show Answer Correct Answer: B) Mandi. 3. What is one reason mentioned in the text for the lower prices in weekly markets? A) High overhead expenses. B) Lack of variety. C) Low quality of goods. D) Competition among shops. Show Answer Correct Answer: D) Competition among shops. 4. Markets promote inequality A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 5. The company which sells or leases its products and its name to others is called ..... A) Franchisor. B) Seller. C) Franchisee. D) None. Show Answer Correct Answer: A) Franchisor. 6. Branded goods are ( i ), often promoted by (ii) and claims of (iii) quality. They are mostly sold in (iv). A) I-Expensiveii-Customersiii-Goodsiv-Small Shops. B) I-Expensiveii-Advertisingiii-Betteriv-Showrooms. C) I-Expensiveii-Ownersiii-Goodsiv-Wholesale Shops. D) None of the above. Show Answer Correct Answer: B) I-Expensiveii-Advertisingiii-Betteriv-Showrooms. 7. Which type of retail market is considered as shopping-cum-entertainment venues? A) Supermarkets. B) Malls. C) Online Shopping. D) Chain stores. Show Answer Correct Answer: B) Malls. 8. What is the significance of the weekly market in terms of cost? A) No impact on prices. B) Varied pricing strategies. C) Higher prices due to quality. D) Cheaper goods due to lower expenses. Show Answer Correct Answer: D) Cheaper goods due to lower expenses. 9. What differentiates shopping complexes and malls from weekly markets? A) Lower prices. B) Permanent shops. C) Exclusive brands. D) Reduced variety. Show Answer Correct Answer: B) Permanent shops. 10. ..... are the places where a lot of sellers and buyers come together and exchange of goods take place. A) Play grounds. B) Markets. C) Theatres. D) None of the above. Show Answer Correct Answer: B) Markets. 11. Malls have been an integral part of our lives since ancient times. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 12. Why are goods cheaper in the weekly markets?A) They don't pay extra fee for any other reason.B) They store the things they sell at home.C) They do not hire workers. A) Only A). B) Only C). C) Both A) and B). D) All of the above. Show Answer Correct Answer: D) All of the above. 13. What is the common theme in the Rajput traditions of heroism, as mentioned in the text? A) Rejection of religious practices. B) Promotion of pacifism. C) Idealization of heroic warriors. D) Emphasis on trade and commerce. Show Answer Correct Answer: C) Idealization of heroic warriors. 14. According to the modern concept of marketing, ..... is the key to success. A) Selling. B) Customer satisfaction. C) Profits. D) Buying. Show Answer Correct Answer: B) Customer satisfaction. 15. What kind of traders is shopkeepers in a weekly market? A) Small traders. B) Large traders. C) Wholesalers. D) None of these. Show Answer Correct Answer: A) Small traders. 16. ..... are the transactions that take place between two different businesses or factories A) B to B. B) A to A. C) B to A. D) None of the above. Show Answer Correct Answer: A) B to B. 17. There are 100 Dettol soaps with retail value of ₹ 5 each. Now company decides to spend ₹ 200 on its advertisements. What will be the new MRP of 1 Dettol soap? A) ₹ 7. B) ₹ 500. C) ₹ 6. D) ₹ 5. Show Answer Correct Answer: A) ₹ 7. 18. A chain store is an example of a: A) Retail market. B) Wholesale market. C) Weekly market. D) None of the above. Show Answer Correct Answer: A) Retail market. 19. What is the purpose of wholesale traders in the chain of markets, as mentioned in the text? A) To buy goods in large quantities from factories. B) To sell goods directly to consumers. C) To compete with other traders. D) To open special showrooms. Show Answer Correct Answer: A) To buy goods in large quantities from factories. 20. Mansabdar rank and salary were determined by numerical value called ..... A) Dreaded. B) Sadr. C) Substance. D) Dewan. Show Answer Correct Answer: C) Substance. 21. Buying and selling of goods within a country is called A) State trade. B) International trade. C) Internal trade. D) Regional trade. Show Answer Correct Answer: C) Internal trade. 22. Why should the wholesale trader buy the goods from the producers and not the customers? A) The Constitution of India says so. B) Customers are not able to access the producers. C) The producers won't be interested in selling small quantities to the customers. D) All of the above. Show Answer Correct Answer: C) The producers won't be interested in selling small quantities to the customers. 23. Online shopping means: A) To buy goods and services over the internet. B) To buy goods for free. C) All the above. D) None of the above. Show Answer Correct Answer: A) To buy goods and services over the internet. 24. What does the chapter highlight about markets that people may not be aware of? A) They operate only through shops in the market. B) They exclusively sell online. C) They involve buying and selling of goods indirectly. D) They focus on direct consumer sales. Show Answer Correct Answer: C) They involve buying and selling of goods indirectly. 25. It is necessary to go to market to purchase goods. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 26. A market that is held on a specific day of the week is called? A) None. B) Daily market. C) Both. D) Weekly market. Show Answer Correct Answer: D) Weekly market. 27. Why are branded goods often more expensive than non-branded ones? A) Exclusive advertising strategies. B) Higher production costs. C) Promotion of pacifism. D) Lower demand. Show Answer Correct Answer: B) Higher production costs. 28. World water day is celebrated on ..... A) April 22. B) January 22. C) March 22. D) February 22. Show Answer Correct Answer: C) March 22. 29. Why do buyers and sellers in different markets have unequal opportunities? A) Uniform pricing strategies. B) Availability of credit. C) Different levels of income. D) Varied market timings. Show Answer Correct Answer: C) Different levels of income. 30. Which of the following are main wholesale markets in Delhi? A) Okhla. B) Keshpur. C) Daryjang. D) All of the above. Show Answer Correct Answer: A) Okhla. 31. What is an enclosed shopping space in shops, restaurants and cinema theatres? A) Mall. B) Local Market. C) Weekly Market. D) None of these. Show Answer Correct Answer: A) Mall. 32. A ..... buys goods in bulk from manufaturers and sells them to retailers A) Retailers. B) Wholesaler. C) Farmer. D) None of the above. Show Answer Correct Answer: B) Wholesaler. 33. The supply of goods depend upon the requirement of customers A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 34. In Erode, the arrangement between the merchant and the weavers is an example of ..... A) Export Business. B) Putting-out system. C) Wholesale marketing. D) Cooperative. Show Answer Correct Answer: B) Putting-out system. 35. Arrange the following steps in the correct order of the chain of markets: A) 1 $\rightarrow$ 2 $\rightarrow$ 3 $\rightarrow$ 4. B) 3 $\rightarrow$ 2 $\rightarrow$ 4 $\rightarrow$ 1. C) 2 $\rightarrow$ 3 $\rightarrow$ 1 $\rightarrow$ 4. D) 2 $\rightarrow$ 1 $\rightarrow$ 3 $\rightarrow$ 4. Show Answer Correct Answer: C) 2 $\rightarrow$ 3 $\rightarrow$ 1 $\rightarrow$ 4. 36. Tara is looking for the best places to buy groceries. Where will she get the products at cheaper rates? A) Weekly Market. B) Shopping Malls. C) Neighbourhood Shops. D) All of the above. Show Answer Correct Answer: A) Weekly Market. 37. The shops that are useful as they are near our home are called? A) Neighbourhood shops. B) None. C) Weekly market shops. D) Both. Show Answer Correct Answer: A) Neighbourhood shops. 38. According to the text, what is the advantage of shops in the neighborhood? A) They offer goods at cheaper rates. B) They provide a variety of goods. C) They allow buyers and sellers to know each other. D) They are permanent and spacious. Show Answer Correct Answer: C) They allow buyers and sellers to know each other. 39. Which is not a kind of market? A) Market. B) Shopping Complexes. C) Weekly. D) Wholesale. Show Answer Correct Answer: A) Market. 40. What does the chapter suggest about the buying and selling of goods that we don't use directly? A) It is a hidden process involving only producers and consumers. B) It happens through special shops in the city and factories. C) It is limited to small-scale transactions between buyers and sellers. D) It doesn't play a significant role in the economy. Show Answer Correct Answer: B) It happens through special shops in the city and factories. 41. "Budh Market" of Delhi is an example of which market? A) Daily market. B) Neighbourhood market. C) Malls. D) Weekly market. Show Answer Correct Answer: D) Weekly market. 42. THE ..... PAYS THE FINAL PRICE FOR THE PRODUCT BOUGHT. A) SELLER. B) SHOPKEEPER. C) CUSTOMER. D) NONE OF THESE. Show Answer Correct Answer: C) CUSTOMER. 43. When is weekly market open A) A particular day. B) Everyday. C) Friday and Saturday. D) None of the above. Show Answer Correct Answer: A) A particular day. 44. Weekly market trader is A) Small Trader. B) Big Businessman. C) Large Trader. D) All of the above. Show Answer Correct Answer: A) Small Trader. 45. Which variety of silk is in a zigzag pattern? A) Moog. B) Ikat. C) Medium. D) Nenda. Show Answer Correct Answer: B) Ikat. 46. Users of goods are known as A) Buyers. B) Producers. C) Consumers. D) Seller. Show Answer Correct Answer: C) Consumers. 47. Which one of the following is not a correct statement? A) Malls are run in the urban areas. B) They are mult-storeyed air-conditioned buildings. C) They sell things at cheaper rates. D) They sell both braded and non branded goods. Show Answer Correct Answer: C) They sell things at cheaper rates. 48. What are the link between producers and traders. A) Wholesaler. B) Customer. C) Retailer. D) All of the above. Show Answer Correct Answer: B) Customer. 49. Goods ordered from the ..... , and the amount is paid by plastic money, A) Weekly maket. B) Small hawker. C) Street vendor. D) Internet. Show Answer Correct Answer: D) Internet. 50. Buying and selling of goods and services within a country is called A) Internal trade. B) Regional trade. C) International trade. D) State trade. Show Answer Correct Answer: A) Internal trade. 51. What is the term used for large multi-storeyed air-conditioned buildings with shops on different floors? A) Weekly markets. B) Malls. C) Shopping complexes. D) Retailers. Show Answer Correct Answer: B) Malls. 52. Markets create employment opportunities. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 53. Wholesalers help in promoting the sale of products by displaying advertisements A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 54. A retailer buys products from a manufacturer or wholesaler and sells it to the ..... A) Wholesaler. B) Producer. C) Consumer. D) None of the above. Show Answer Correct Answer: C) Consumer. 55. What is the difference between a monopoly and a competitive market? A) Monopoly has less demand, while a competitive market has more demand. B) Monopoly has lower prices, while a competitive market has higher prices. C) Monopoly has no sellers, while a competitive market has many sellers. D) Monopoly has only one seller, while a competitive market has many sellers. Show Answer Correct Answer: D) Monopoly has only one seller, while a competitive market has many sellers. 56. Rahul observed that a certain group of make-shift shops are held ever week.What are those markets called? A) Veg shops. B) Barber. C) Meat markets. D) Weekly market. Show Answer Correct Answer: D) Weekly market. 57. Why do permanent shops generally charge higher prices than weekly markets? A) Stable locations. B) Bigger advertising budgets. C) Lower competition. D) Higher quality products. Show Answer Correct Answer: A) Stable locations. 58. Who buys goods in bulk and stores in godowns A) Producers. B) Customers. C) Wholesaler. D) None of the above. Show Answer Correct Answer: C) Wholesaler. 59. Which is the largest river basin the world? A) The Ganga-Brahmaputra Basin. B) The Amazon Basin. C) The Hooghly Basin. D) None of the above. Show Answer Correct Answer: B) The Amazon Basin. 60. What is the role of traders in the chain of markets? A) They are the final consumers. B) They are the producers of goods. C) They act as intermediaries between producers and consumers. D) They regulate market prices. Show Answer Correct Answer: C) They act as intermediaries between producers and consumers. 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