CLASS-VII QUIZ 5: SOCIAL SCIENCE:- CHAPTER: 12 UNDERSTANDING MARKETS

UNDERSTANDING MARKETS QUIZ

41. The price printed on a label that includes all taxes is:

a) MRP b) Wholesale Price c) Cost Price d) Zero Price

42. Challenge for small traders in weekly markets:

a) Too much profit b) No fixed place and weather changes c) Too many employees d) Malls inside weekly markets

43. About Consumer Awareness:
I. Checking the expiry date is a sign of an aware consumer. / एक्सपायरी डेट चेक करना जागरूक उपभोक्ता की निशानी है।
II. Consumers should always ignore quality marks. / उपभोक्ताओं को हमेशा गुणवत्ता चिह्नों की अनदेखी करनी चाहिए।

a) Only I is true b) Only II is true c) Both are true d) Neither true

44. Match the following:
| Market | Example |
| 1. Online Market | i. Grain Mandi |
| 2. Wholesale Market | ii. Flipkart |
| 3. Local Market | iii. Neighborhood Chemist |

a) 1-ii, 2-i, 3-iii b) 1-i, 2-ii, 3-iii c) 1-iii, 2-i, 3-ii d) 1-ii, 2-iii, 3-i

45. What is Negotiation?

a) Discussion to reach agreement b) Shouting at seller c) Paying blindly d) Running away

46. Super Bazaar describes:

a) Superhero market b) Large retail store c) Small shop d) Car showroom

47. Assertion-Reason:
Assertion (A): Markets act as a bridge between production and consumption.
अभिकथन (A): बाजार उत्पादन और उपभोग के बीच एक सेतु (पुल) के रूप में कार्य करते हैं।
Reason (R): They allow goods to reach those who need them from those who produce them.
कारण (R): वे सामान को उन लोगों तक पहुँचने की अनुमति देते हैं जिन्हें उनकी आवश्यकता है, उनसे जो उन्हें पैदा करते हैं।

a) Both true & R explains A b) A true R false c) A false R true d) Both true but not explanation

48. Role of Middleman:

a) Eat food b) Stop market c) Facilitate trade d) Work only in malls

49. Prosperity emanates from the market:

a) John Maynard Keynes b) Dr. Rajendra Prasad c) Mahatma Gandhi d) Adam Smith

50. Why might a product not have certification logo?

a) Logos illegal b) Produced locally without testing c) Gift d) Producer forgot