A.
1. b. 2. c. 3. d. 4. a. 5. d.
B.
1. buyers, sellers
2. physical, virtual
3. black marketeering, artificial
4. consumers, wholesalers
5. employed
C.
1. F 2. T 3. T 4. F 5. F
D.
1. d. 2. a. 3. c. 4. e. 5. b
E. Short Answer Type Questions
1. A weekly market is called so because it is held only once in a week on a fixed day where different sellers gather to sell goods.
2. Neighbourhood shops are useful because they are located close to homes and provide daily necessities quickly and sometimes on credit.
3. A wholesale market is a market where goods are sold in large quantities to retailers and not directly to consumers.
a. Large shopping complexes
b. Shopkeeper
c. Provide goods to shops on credit
d. Bargaining can be done here
e. Do not sell goods in small quantity
4. Shopping malls and complexes are large buildings having many shops, restaurants, and entertainment facilities under one roof where customers can buy many products in one place.
5. A retailer sells goods directly to customers in small quantities, provides goods as per demand, and sometimes offers credit and home delivery facilities.
F. Long Answer Type Questions
1. Itinerant retailers are traders who move from place to place to sell goods. They sell items such as vegetables, fruits, clothes, household goods, and daily-use items. Examples include hawkers, vendors, and peddlers.
2. Shopping malls are becoming popular among young and old people because they provide many facilities such as shopping, food courts, cinemas, and entertainment in one place with comfort and safety.
3. Retailers are of different types such as neighbourhood shops, weekly markets, street vendors, shopping malls, and online retailers who sell goods directly to consumers.
4. Some producers sell products directly to customers, such as farmers selling vegetables or dairy products. They sell their goods in local markets or directly to consumers without middlemen.
5. Different markets around us include weekly markets, neighbourhood shops, shopping malls, wholesale markets, and online markets where goods are sold to consumers.
G. Distinguish between
| Wholesaler | Retailer |
|---|---|
| Sells goods in large quantities to retailers. | Sells goods in small quantities to consumers. |
| Acts as middleman between producer and retailer. | Directly deals with consumers. |
| Hoarding | Black Marketing |
|---|---|
| Storing goods in large quantity to create shortage. | Selling goods illegally at higher prices. |
H. Give reasons
1. Black marketing is harmful because goods are sold at very high prices, causing difficulty for common people to buy essential items.
2. We do not buy directly from producers because producers usually sell goods in bulk, and retailers make goods available conveniently in small quantities.