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Question
Class 7Social ScienceUnderstanding Markets

How have physical and online markets evolved over time?

Verified Answer

Physical markets have long provided face-to-face trade where buyers can inspect goods and obtain immediate services.

  • Online platforms emerged with improved communication and payment systems, allowing remote purchases, wider choice and comparison of prices.

· While online markets increased convenience and reach, physical markets remain important for immediate needs, personal service and goods that people prefer to see or try before buying.