Tag: role of market

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Questions Related to role of market

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

Goods are produced in ________.

  1. Factories

  2. Farms

  3. Homes

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Goods that we purchase from the market are produced in factories, farms and in homes. However, we don't buy the goods directly from the factories or from the farm. We purchase the goods from the traders who buy the goods from factories and farms.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

The arrangement between the merchant and the weavers is an example of the putting-out system.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The arrangement between the merchant and the weavers is an example of a putting-out system, whereby the merchant supplies the raw material and receives the finished product. The merchants purchase the raw material and give instructions to the weavers about the kind of cloth that is to be made. This arrangement is prevalent in the weaving industry in most regions of India.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

What happens in the putting-out system?

  1. Merchant supplies the raw material

  2. Receives the finished product

  3. Both A and B

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The arrangement between the merchant and the weavers is an example of a putting-out system, whereby the merchant supplies the raw material and receives the finished product. The merchants purchase the raw material and give instructions to the weavers about the kind of cloth that is to be made. This arrangement is prevalent in the weaving industry in most regions of India.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

Which of the following is an example of shops in neighbourhood ___________.

  1. Dairy

  2. Departmental store

  3. Pharmacy

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The example of shops in neighbourhood is dairy, groceries from departmental stores, pharmacy, stationery, eatables, fruit vendors, vegetable hawkers etc.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar
Match Columns
Column I Column II
(i) Farmer (a) Supplies to exporter
(ii) Merchant (b) Chain of stores
(iii) Foreign businessman (c) Harvest cotton

  1. i a, ii b, iii c

  2. i c, ii a, iii b

  3. i b, ii a, iii c

  4. i b, ii c, iii a
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The farmers harvest the cotton which requires high levels of inputs such as fertilisers and pesticides. The merchant supplies the cotton cloth produced by the weavers to exporters. The exporters use the cloth to make shirts and are exported to foreign businessmen who run a chain of stores.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

Who among the following gains the most in the market?

  1. Foreign businessman

  2. Exporter

  3. Farmer

  4. Merchant
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The foreign businesspersons run a chain of stores. These large stores do business strictly on their own terms. These businessmen also have money and own the factories, the large shops, large land holdings, etc. They demand the lowest prices from the supplier and sell the products by making huge profits. The poor also depends on them for various things. Thus, the foreign businessperson gains the most in the market.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

At the cloth market, the merchants sell the cloth to the _________.

  1. Garment factories

  2. Jute factories

  3. Tanneries

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The weavers depend on the merchants both for raw materials and markets. At the cloth market, the merchants sell the cloth to the garment factories. In this way, the market works more in favour of the merchants.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

Which among them is the feature of chain market?

  1. What is produced in one place reaches the people everywhere

  2. Only brand products are encouraged

  3. Chain markets are only in urban areas

  4. None of them
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Advantages of chain market are as follows:-

1. Things produced in one place reach people everywhere.
2. It creates employment opportunity.
3. It encourages people to produce more goods and services.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

A chain of markets links the producer of cotton to the buyer at the ___________.

  1. Supermarket

  2. Stock market

  3. Black market

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The market chain connects producers to consumers through various intermediaries, eventually reaching the final point of sale, such as a supermarket or retail shop.

Multiple choice civics haat (a weekly market) a weekly market role of market role of market/bazaar

Which of the following is/are the characteristic(s) of a mall?

  1. It is an enclosed shopping space.

  2. It is usually a large building with many floors that have shops.

  3. It also consists of restaurants and even a cinema theatre.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Following are the characteristics of a mall:-

1. It is an enclosed shopping space.
2. It is large multi-storeyed air-conditioned building.
3. It has shops on different floors.
4. It also consists of restaurants and even a cinema theatre.
5. It sells both branded and non-branded goods.