SEBA Class 7 Social Science MCQ Chapter 18 Markets Around Us Solutions in English Medium, Class 7 Social Science Multiple Choice Question Answer in English to each chapter is provided in the list so that you can easily browse throughout different chapters SEBA Class 7 Social Science MCQ Chapter 18 Markets Around Us and select need one.
SEBA Class 7 Social Science MCQ Chapter 18 Markets Around Us
Also, you can read the SCERT book online in these sections Class 7 Social Science Objective Type Solutions by Expert Teachers as per SCERT (CBSE) Book guidelines. These solutions are part of SCERT All Subject Solutions. Here we have given Assam SEBA Class 7 Social Science Multiple Choice Questions and Answer for All Subject, You can practice these here.
Markets Around Us
Chapter – 18
POLITICAL AND ECONOMICS
| MCQ |
1. What are the two main types of markets?
(a) Traditional and Modern Markets.
(b) Wholesale and Retail Markets.
(c) Local and International Markets.
(d) Open and Closed Markets.
Answer: (b) Wholesale and Retail Markets.
2. Which type of market involves selling goods in large quantities?
(a) Retail Market.
(b) Wholesale Market.
(c) Online Market.
(d) Flea Market.
Answer: (b) Wholesale Market.
3. Where do consumers typically buy goods for personal use?
(a) Wholesale Market.
(b) Retail Market.
(c) Export Market.
(d) Auction Market.
Answer: (b) Retail Market.
4. What type of market is usually found in rural areas?
(a) Retail Market.
(b) Wholesale Market.
(c) Village Market.
(d) Global Market.
Answer: (c) Village Market.
5. Which market type is characterised by selling directly to consumers?
(a) Wholesale Market.
(b) Export Market.
(c) Retail Market.
(d) Stock Market.
Answer: (c) Retail Market.
6. What is a key feature of a wholesale market?
(a) Selling goods in small quantities.
(b) Selling goods in large quantities.
(c) Higher prices compared to retail.
(d) Selling directly to consumers.
Answer: (b) Selling goods in large quantities.
7. Which market typically has a larger variety of products available to individual consumers?
(a) Wholesale Market.
(b) Retail Market.
(c) Export Market.
(d) Import Market.
Answer: (b) Retail Market.
8. In which market do businesses typically purchase goods for resale?
(a) Retail Market.
(b) Wholesale Market.
(c) Open Market.
(d) Black Market.
Answer: (b) Wholesale Market.
9. Which market operates with lower prices due to bulk selling?
(a) Retail Market.
(b) Wholesale Market.
(c) Supermarket.
(d) Convenience Store.
Answer: (b) Wholesale Market.
10. Where can consumers typically find more personalized customer service?
(a) Wholesale Market.
(b) Retail Market.
(c) Export Market.
(d) Online Market.
Answer: (b) Retail Market.
11. What is the primary purpose of coins in a market?
(a) Decoration.
(b) Trading commodities.
(c) Medium of exchange.
(d) Collection.
Answer: (c) Medium of exchange.
12. Coins are an example of which type of money?
(a) Commodity Money.
(b) Fiat Money.
(c) Digital Money.
(d) Barter System.
Answer: (b) Fiat Money.
13. Which of the following is true about coins?
(a) They are always made of gold.
(b) They represent a unit of currency.
(c) They are primarily used for international trade.
(d) They have no intrinsic value.
Answer: (b) They represent a unit of currency.
14. What feature helps distinguish coins from other forms of money?
(a) Their shape.
(b) Their weight.
(c) Their metallic composition.
(d) Their denomination.
Answer: (c) Their metallic composition.
15. In the context of markets, coins are most closely associated with which activity?
(a) Investment.
(b) Exchange of goods and services.
(c) Saving for the future.
(d) Government policies.
Answer: (b) Exchange of goods and services.
