Hampi Bazaar & Old-Market Questions (page 250)
Q 1. Can you imagine what this bazaar must have looked like during its peak?
A. It would be loud and colourful: long stone streets packed with stalls, heaps of rice, bright silks, shining jewels, parrots in cages, cows and horses tied outside, and buyers speaking many languages.
Q 2. Do you know of any old markets from your state? How would they be similar or different from today’s markets?
A. Sample (Maharashtra): Pune’s Shaniwar Wada bazaar once sold grains and horse gear. Like today’s markets it was busy and noisy, but unlike a modern mall it had no plastic packets or electricity—only oil lamps and cloth sacks.
Guava-Price Skit (page 251)
Q 3. Observe the illustration. What are these people discussing? Prepare a buyer-seller guava dialogue skit.
A. They are bargaining over the price of guavas.
Sample two-line skit:
Buyer: “Forty rupees a kilo is too high, uncle. Will you take thirty?”
Seller: “Let us settle at thirty-five; these are sweet garden guavas.”
Negotiation-Free Markets (page 252)
Q 4. Think about it: Can you think of a type of market where negotiation is less common and why?
A. In a supermarket the price tags are fixed; many customers come quickly, so haggling would slow the queue.
Late-Night Discounts & End-Season Sales (page 254)
Q 5. Vegetables cost less late at night; woollens get big discounts after winter. Why?
A. Sellers drop prices when stock might spoil or is no longer needed. Late at night fresh veggies may wilt by morning; sweaters will lie unsold in summer.
Online vs Physical Shopping (page 255)
Q 6-a. What are the pros and cons of online and physical shopping for buyers and sellers?
A.
Online – Buyer: big choice, home delivery, but cannot touch the item. Seller: wider reach, but must ship and handle returns.
Physical – Buyer: can see quality, take home immediately, but travel is needed. Seller: cash in hand, fewer returns, but limited to local customers.
Q 6-b. Name services where physical markets are needed.
A. Hair-cutting, car repair, dental check-ups and tailoring all need face-to-face contact.
Flow-of-Goods Diagram (page 257)
Q 7. Observe the diagram and describe the flow of goods. What is the role of wholesaler and retailer?
A. Goods move Producer → Wholesaler → Retailer → Consumer.
A wholesaler buys huge lots, stores them, then sells small lots to many shopkeepers. A retailer sells in pieces or single units to families.
Trace a Product Chain (page 262)
Q 8. Ask your nearest retailer about a product’s origin and supply chain; trace it like Fig 12.11.
A. Example: School notebooks – Paper mill (Madhya Pradesh) → wholesaler godown (city outskirts) → local stationery distributor → my corner book shop → me.
Life Without Markets (page 263)
Q 9. Think about it: What might life be like without markets?
A. Families would have to grow food, weave cloth and fix tools themselves; most people would spend the whole day just meeting basic needs and have little time for study or fun.
Difficult-to-Sell Products (page 263)
Q 10. Aakriti’s paintings have few local buyers. Can you think of other products with no ready market? How can artists find buyers today?
A. Handmade pottery or rare musical instruments. Artists can use art fairs, galleries or online websites to meet customers far away.
Energy-Efficient Fridge Demand (page 263)
Q 11. Let’s Explore: If everyone wants low-electricity fridges, what happens in the supply chain?
A. Producers switch designs to energy-saving models; wholesalers order those models; retailers stock them; old wasteful fridges slowly disappear.
Onion-Price Situation (page 265)
Q 12-a. What happens to onion price when supply falls?
A. Price rises sharply.
Q 12-b. If suppliers hold back onions, what should government do?
A. Release buffer-stock onions, stop hoarding, import onions if needed to cool the price.
Government Interventions (page 267)
Q 13-a. Where else do you see the government in markets?
A. Building roads, running ration shops, giving crop-insurance, checking petrol pump accuracy.
Q 13-b. Any area where rules could be reduced?
A. Small street-food carts could have simpler licences so they can earn easily.
Choosing Marbles (page 268)
Q 14. Think about it: What qualities will you look for when buying marbles to win?
A. Hard glass, smooth surface, medium weight, bright colour and correct size, all within ₹150.
BEE-Star Activity (page 269)
Q 15. Let’s Explore: Check BEE stars at home and list devices from lowest to highest efficiency.
A. Sample list:
1-star room heater < 3-star refrigerator < 4-star washing machine < 5-star LED TV.
End-of-Chapter Questions & Activities (page 271-272)
Q 16. What are the main features of a market? Describe one you visited.
A. Buyers, sellers, agreed price, and a place (physical or online). Example visit: At the weekly haat I saw farmers (sellers), townsfolk (buyers), bargaining over tomato price.
Q 17. Discuss Adam Smith’s quote.
A. It means people trade for things they cannot make themselves, and this trading (market) spreads wealth and happiness—exactly what we studied.
Q 18. If guava price stays high and seller profits, what will the farmer do next season?
A. He will grow more guavas expecting high demand and good money, planting extra trees or using more fertiliser.
Q 19. Match markets with characteristics.
| # | Market | Characteristic |
|---|---|---|
| 1 | Physical | d) Buyers and sellers meet in person |
| 2 | Online | e) Buyers and sellers meet virtually any time |
| 3 | Domestic | f) Lies within a nation’s borders |
| 4 | International | a) Goods cross national borders |
| 5 | Wholesale | b) Deals in bulk quantities |
| 6 | Retail | c) Serves final consumers |
Q 20. Prices sometimes stay high with few buyers; why?
A. Item may be rare or costly to make—like diamonds or satellite parts. High production cost or limited supply keeps price up.
Q 21. Family pays ₹40 /kg beans in supermarket after refusing ₹30 on street. Why?
A. Supermarket beans are clean, packed, trust-worthy scales, air-conditioned comfort; family values hygiene and convenience over price.
Q 22. Tomato surplus leads farmers to dump produce. Why? How can wholesalers help?
A. Too many tomatoes drop the price below transport cost. Wholesalers can store in cold rooms, make tomato puree or sell in distant cities; government can set up processing units.
Q 23. School carnival selling—how do students negotiate?
A. They set a cost price, add small profit, use colourful posters, give discount for friends, and politely explain prices.
Q 24. Check 5 products for quality logos; find ones without. Why?
A. Street-side loose snacks or handmade clay toys lacked logos because very small makers cannot afford certification.
Q 25. Design a soap-bar label—what must you print?
A. Brand name, weight 100 g, ingredients, manufacture & expiry dates, price, batch number, maker’s address, BIS/ISI mark and “For external use only”.