Question

Class 7Social ScienceUnderstanding Markets

Match the Following

(Match Column A with the correct option in Column B)

Column A

Column B

1. Physical Market

(a) Deals with large quantities of goods

2. Domestic Market

(b) Trade that happens within a country

3. AGMARK

(c) Ensures the quality of agriculture products

4. Wholesale Market

(d) Buyers and sellers meet in person

5. Online Market

(e) Transactions happen through apps or websites

Verified Answer

1 → b: Physical markets involve in-person transactions where buyers and sellers meet directly.

2 → a: Domestic markets refer to trade within a country's borders.

3 → c: AGMARK is a certification mark ensuring the quality of agricultural products.

4 → d: Wholesale markets deal with large quantities of goods sold in bulk.

5 → e: Online market is a marketplace where transactions happen online using apps and websites.