These Class 7 Social Science Worksheet and Class 7 SST Chapter 12 Understanding Markets Worksheet with Answers are excellent for board exam practice.
Class 7 SST Chapter 12 Understanding Markets Worksheet
Class 7 Understanding Markets Worksheet
Worksheet On Understanding Markets Class 7 – Understanding Markets Worksheet Class 7
Multiple Choice Questions
Question 1.
What is the role of a retailer?
(a) To sell goods in bulk quantities
(b) To manufacture goods
(c) To sell goods to final consumers
(d) To export goods
Question 2.
What is the role of the government in markets?
(a) To advertise products
(b) To ensure fair practices and protect consumers
(c) To sell goods directly
(d) To fix prices of all products
Question 3.
Who is an aggregator?
(a) A wholesaler
(b) A mobile app or website selling goods from different sellers
(c) A bank
(d) A transporter
Question 4.
What is a market?
(a) A place for selling vegetables
(b) A place where people buy and sell goods and services
(c) An online platform
(d) A bank
Question 5.
Which of the following is a certification for food safety?
(a) ISI
(b) AGMARK
(c) FSSAI
(d) BEE
Question 6.
What does BEE Star rating indicate?
(a) Size of the product
(b) Energy efficiency
(C) Colour quality
(d) Shelf life
Question 7.
Which type of market requires physical presence of both buyer and seller?
(a) Online market
(b) International market
(c) Physical market
(d) Stock market
Question 8.
Hampi Bazaar was located in which Indian state?
(a) Tamil Nadu
(b) Maharashtra
(c) Karnataka
(d) Gujarat
Question 9.
Which of the following ¡s NOT a type of market?
(a) Physical market
(b) Online market
(c) Fun market
(d) International market
Question 10.
Price in a market is decided by?
(a) The government
(b) Demand and supply of the product
(c) The sellers
(d) Mutually by buyers and sellers
Assertion and Reason Questions
There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the codes provided below:
Question 1.
Assertion (A): The government regulates the prices of agricultural produces.
Reason (R): These prices are set ensuring a valid and reasonable profit to the farmers.
Codes:
(a) Both (A) and (R) are true, and R is the correct explanation of (A).
(b) Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(c) (A) is true, but (R) is false.
(d) (A) is false, but (R) is true.
Question 2.
Assertion (A) Retailers sell products in small quantities.
Reason (R) Retailers sell product directly to end customers.
Codes:
(a) Both (A) and (R) are true, and R is the correct explanation of (A).
(b) Both (A) and (R) are true, but (R) is not the correct explanation of (A).
(c) (A) is true, but (R) is false.
(id) (A) is false, but (R) is true.
Fill in the Blanks with the Words given in the Box Below
| Vijayanagar, AGMARK, FSSAI, wholesaler, international |
1. ____________ markets operate across national borders.
2. ____________ is the certification mark for food safety in India.
3. The Hampi Bazaar was a flourishing market during the ____________ Empire.
4. ____________ is the certification for agricultural products.
5. The ____________ buys goods in large quantities and sells to retailers.
State Whether the Following Statements are True or False
1. Buyers are always looking up the cheapest deals.
2. Government provides certain public goods to foster citizens’ welfare.
3. The cold storages are meant to store grains to rescue them from perishing.
4. Surat has grown as a hub for diamond industry.
5. Markets only exist in physical form and are widely known as Haats.
Match the Contents in Column A with those in Column B
| Column A | Column B |
| 1. Domestic market | A. Buyers and sellers meet physically |
| 2. International market | B. Buyers and sellers meet virtually |
| 3. Wholesale market | C. Trade services flow across countries |
| 4. Physical market | D. Buying and selling in bulk |
| 5. Online market | E. Trade within a single country |
Choose the correct option:
(a) 1-C, 2-A, 3-E, 4-B, 5-D
(b) 1-E, 2-C, 3-D, 4-A, 5-B
(c) 1-D, 2-E, 3-B, 4-C, 5-A
(d) 1-C, 2-A, 3-B, 4-E, 5-D
Very Short Answer Type Questions
Question 1.
What is FSSAI mark used for?
Answer:
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Question 2.
What is a market?
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Question 3.
Name any one historical market you have read about in this chapter.
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Question 4.
Who is a wholesaler?
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Question 5.
Mention the use of ISI mark.
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Short Answer Type Questions
Question 1.
How do markets contribute to cultural exchange?
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Question 2.
Why does government control the prices of grains like rice and maize etc.?
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Question 3.
How is price of a certain good set in the market?
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Question 4.
Differentiate between a wholesaler and a retailer.
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Long Answer Type Questions
Question 1.
Write down the supply chain existing in physical markets.
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Question 2.
What is the role of government in the market?
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Question 3.
List a few types of markets in India. Discuss their features with examples.
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Case Based Questions
Read the following excerpt and answer the questions that follow:
The government has a role in ensuring the welfare of consumers and protecting them from unfair practices. The government ensures that manufacturers follow the required quality and safety standards while producing goods and delivering services. For instance, pharmaceutical companies manufacture medicines for treating diseases. The government sets procedures for approvals of medicines and conducts sample testing to check if the produced drug meets standards of quality. These regulations ensure the quality and safety of the drugs so that there is no risk to the consumers’ health.
(a) State the significance of the government in trade system.
(b) What role does the government play to protect consumers from unfair practices?
(c) Which products’ prices are set by the government?
(d) How does the government keep the safety parametres of medicines in check?
(e) What does the government do to ensure the quality and safety of drugs?
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Skill Based Question
Question 1.
Today, markets—both physical and online—fulfill all our basic needs for goods and services. They have become an essential part of our daily lives. Can you imagine what life would be like without these markets? What problems might we face in their absence?
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Competency Based Question
Question 1.
Research and gather information about the factors of a running market—main branches, offered products, product rate, and quality and safety standards. How do you think the consumers can check the quality and safety measures of these products on their own?
Answer:
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Picture Based Questions
Observe the picture given below and answer the questions that follow:
(a) Identify the given picture.
(b) Where is this place located?
(c) In which empire this market flourished to its peak?
(d) Name the travellers who described this market vividly in their books or travelogue.
(e) List some products that were consistently traded in this place.
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