NCERT Class 7 Political Science Chapter 8: Markets Around Us YouTube Lecture Handouts
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NCERT Class 7 Political Science Chapter 8: Markets Around Us
Why We Go to Market?
To buy products
What Are the Kinds of Market?
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Shops
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Hawker Stalls
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Weekly Market
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Large Shopping Mall
Weekly Market
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No permanent shops
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Held once a week
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Set up at different places in India
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Many such markets exist
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Meant for daily requirements
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Available at Cheaper rate
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Sell product made at home – less costly
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Permanent buildings have lot of expenditure as rent, electricity, fees to the government, and wages to their workers
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Good competition exists
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Bargain & reduce price
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Many things available at one place – major advantage – from grocery to clothes to utensils
Shops in Neighborhood
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Shops exist in neighborhood
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Milk
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Grocery
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Stationary
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Eatables
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Some are permanent shops
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Others are roadside stalls – vendors, hawkers
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Are near to home
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Can go there any day
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Buyer & seller know each other
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Shops do provide goods on credit
Shopping Complexes
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Have many shops
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Mall: large multistoried air-conditioned buildings with shops on different floors
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Both branded & non-branded goods
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Branded goods are expensive, promoted by advertisement & quality
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Special Showrooms
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Smaller number of people can buy branded products
Chain of Markets
Series of market connected like a chain as product pass from one market to another

Image of Chain of Market
Image of Chain of Market
Goods Produced in Factories, Farms or Houses
Markets Everywhere
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Exist in specific locality
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Now can place order by phone or internet
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Home delivery options
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Sales representatives wait for doctors
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Farmer purchase fertilizer to grow crops
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Car factory purchases engines from factories
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Traders earn unequal amount – weekly market traders earn less profit than shopping complex traders
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What is produced in one market reaches everywhere
-Mayank