Ch-2 Worksheet

Multiple Choice Questions (MCQs)

1. A market is a place where:

A) Only buyers meet
B) Only sellers meet
C) Buyers and sellers meet
D) Government officials meet
👉 Answer: C) Buyers and sellers meet

2. A weekly market is held:

A) Once a month
B) Daily
C) Once a week
D) Twice a year
👉 Answer: C) Once a week

3. The shops in weekly markets are usually:

A) Permanent
B) Government-run
C) Temporary
D) Online
👉 Answer: C) Temporary

4. Vendors in a weekly market usually do not:

A) Provide variety
B) Sell in bulk
C) Pay rent
D) Sell fresh goods
👉 Answer: C) Pay rent

5. A mall is a type of:

A) Local fair
B) Online store
C) Formal market
D) Informal market
👉 Answer: C) Formal market

6. Local markets are important because they:

A) Only sell luxury goods
B) Are for entertainment
C) Provide goods at cheaper rates
D) Provide free services
👉 Answer: C) Provide goods at cheaper rates

7. Retailers usually buy goods from:

A) Farmers
B) Wholesalers
C) Shoppers
D) Government
👉 Answer: B) Wholesalers

8. The person who buys goods from a market is called:

A) Seller
B) Retailer
C) Buyer
D) Vendor
👉 Answer: C) Buyer

9. Which is NOT a feature of permanent markets?

A) Shops in fixed locations
B) Temporary tents
C) Goods arranged systematically
D) Business licenses
👉 Answer: B) Temporary tents

10. A hawker is a person who:

A) Owns a mall
B) Sells goods by moving around
C) Buys in bulk
D) Manufactures goods
👉 Answer: B) Sells goods by moving around

11. The margin of profit for small vendors is usually:

A) Very high
B) Very low
C) Fixed by the government
D) Always more than 50%
👉 Answer: B) Very low

12. Who plays a major role in connecting producers and consumers?

A) Government
B) Middlemen
C) Public
D) Factory owners
👉 Answer: B) Middlemen

13. Shops in neighbourhood markets usually sell:

A) Foreign goods
B) Essentials for daily use
C) Jewellery
D) Electronic gadgets only
👉 Answer: B) Essentials for daily use

14. A permanent shopkeeper pays:

A) Wages to government
B) Subsidy
C) Taxes and rent
D) No money at all
👉 Answer: C) Taxes and rent

15. Who among the following earns the least in a chain of markets?
A) Wholesaler
B) Retailer
C) Street vendor
D) Factory owner
👉 Answer: C) Street vendor

16. A wholesaler:
A) Buys in small quantity
B) Sells directly to consumers
C) Buys in bulk and sells to retailers
D) Delivers products free
👉 Answer: C) Buys in bulk and sells to retailers
17. In terms of employment, local markets provide:
A) Government jobs only
B) Jobs to very few people
C) Large employment opportunities
D) Only high-paying jobs
👉 Answer: C) Large employment opportunities

18. Malls sell products at:

A) Bargained prices
B) Negotiated prices
C) Fixed prices
D) Government rates
👉 Answer: C) Fixed prices

19. Which of the following is a feature of a shopping complex?

A) Temporary shops
B) Only local sellers
C) Multiple stores in one building
D) Open-air shops
👉 Answer: C) Multiple stores in one building

20. Which market sells fruits and vegetables on handcarts?

A) Weekly market
B) Neighbourhood shop
C) Mall
D) Mobile vendors
👉 Answer: D) Mobile vendors

21. A mandi is a type of:

A) Retail market
B) Wholesale market
C) Online market
D) Mall
👉 Answer: B) Wholesale market
22. In rural areas, the traditional open-air market is called a:
A) Mandi
B) Supermarket
C) Haats
D) Retail store
👉 Answer: C) Haats
23. Which market supplies goods in large quantities to retailers?
A) Wholesale market
B) Retail market
C) Bazaar
D) Haats
👉 Answer: A) Wholesale market
24. The retail market is mainly meant for:
A) Manufacturers
B) Wholesalers
C) Distributors
D) Final consumers
👉 Answer: D) Final consumers
25. Which of the following is more common in urban areas?
A) Weekly haats
B) Supermarkets
C) Mobile vendors
D) Mandi
👉 Answer: B) Supermarkets
Analogy Questions
1. Hawker : Moves around :: Shopkeeper : ____
👉 Answer: Fixed location
2. Wholesaler : Retailer :: Retailer : ____
👉 Answer: Consumer
3. Weekly Market : Temporary :: Mall : ____
👉 Answer: Permanent
4. Buyer : Consumer :: Seller : ____
👉 Answer: Producer
5. Cloth seller : Weekly market :: Branded clothes : ____
👉 Answer: Shopping mall
6. Local market : Cheaper :: Mall : ____
👉 Answer: Costlier
7. Shop : Fixed :: Hawker : ____
👉 Answer: Mobile
8. Buying : Consuming :: Selling : ____
👉 Answer: Earning

🧠 10 Name the Following

1. Shops that move from place to place.
👉 Answer: Hawkers
2. The place where goods are bought and sold.
👉 Answer: Market
3. A market that is held on a particular day of the week.
👉 Answer: Weekly Market
4. The person who sells goods to the final consumer.
👉 Answer: Retailer
5. A market with permanent buildings and shops.
👉 Answer: Shopping Complex or Mall
6. The person who buys goods for use.
👉 Answer: Consumer
7. The person who makes goods.
👉 Answer: Producer
8. Market where price can be negotiated.
👉 Answer: Weekly or Local Market
9. Market with goods sold at fixed price and billed.
👉 Answer: Shopping Mall
10. Seller who sells in bulk to retailers.
👉 Answer: Wholesaler
Fill in the Blanks (10)
 1. A person who sells goods in small quantities is called a ________.
👉 Answer: Retailer
2. A market held once a week is known as a ________ market.
👉 Answer: Weekly
3. The person who buys goods for personal use is a ________.
👉 Answer: Consumer
4. Shops in malls and complexes are usually ________ in nature.
👉 Answer: Permanent
5. Hawkers and vendors are part of the ________ sector.
👉 Answer: Informal
6. Goods in a shopping mall are sold at a ________ price.
👉 Answer: Fixed
7. A person who moves from place to place to sell goods is called a ________.
👉 Answer: Hawker
8. A ________ buys in bulk and sells to retailers.
👉 Answer: Wholesaler
9. Local markets provide ________ to many people.
👉 Answer: Employment
10. Markets help in the exchange of ________ and services.
👉 Answer: Goods
11.  A traditional rural market held on specific days is called a ________.
👉 Answer: Haat
12.  A ________ is where farmers sell their produce in bulk.
👉 Answer: Mandi
13.  ________ markets sell goods directly to consumers.
👉 Answer: Retail
14.  ________ markets are located in city areas and operate permanently.
👉 Answer: Urban
15.  A ________ supplies goods in bulk to the retailers.
👉 Answer: Wholesaler

Very Short Answer Questions (3–4 points each)

1. What is a market?
● A market is a system or place where buying and selling of goods and services take place.
● It may be permanent or temporary.
● Both buyers and sellers interact in the market.
● Goods are exchanged for money.

2. Who is a retailer?
● A retailer is a person who buys goods in small quantities from wholesalers.
● They sell products directly to the consumers.
● Retailers operate in local markets, shops, or stalls.
● They help in the final step of product distribution.
3. What are weekly markets?
● Weekly markets are held once a week in a specific area.
● Sellers put up temporary stalls or display goods on the ground.
● Products are usually cheaper and bargaining is common.
● Farmers, artisans, and small traders often participate.

4. Mention any two advantages of neighbourhood shops.

● They are located close to residential areas.
● People can buy daily necessities easily.
● They provide credit facilities to regular customers.
● Personalized service and home delivery are often available.

5. Who are hawkers and what do they sell?

● Hawkers are mobile vendors who carry goods around in handcarts or baskets.
● They sell fresh vegetables, fruits, toys, clothes, etc.
● They usually go door to door or stand in busy areas.
● Their prices are usually low and they directly interact with customers.
What is a haat?
● A haat is a weekly rural market.
● It takes place on specific days in open areas.
● Local vendors sell food, clothes, tools, etc.
● It is a temporary setup and caters to local needs.
2. What is a mandi?
● A mandi is a wholesale market.
● Farmers sell agricultural produce in bulk.
● Traders and wholesalers purchase these goods.
● It helps distribute produce to cities and towns.
3. What is the difference between urban and rural markets?
● Urban markets are permanent and organized.
● Rural markets like haats are temporary and weekly.
● Urban markets offer variety; rural ones offer basics.
● Urban markets are more technology-based.
4. What is a bazaar?
● A bazaar is a traditional market street.
● Shops are permanent and categorized by product type.
● Found mostly in urban areas.
● Bazaars offer clothing, spices, utensils, etc.
5. Who are retailers?
● Retailers sell goods directly to consumers.
● They buy products from wholesalers.
● They operate small shops or stores.
● Common in both rural and urban areas.