Question

Class 7Social ScienceUnderstanding Markets

Match the following types of markets with their characteristics:

S.No.

Markets

Criteria

1

Physical market

Goods and services flow outside the nation’s boundaries

2

Online market

Deals in bulk quantities

3

Domestic market

Serves the final consumers with goods and services

4

International market

Requires physical presence of buyers and seller

5

Wholesale market

Buyers and sellers meet virtually and can transact at any time

6

Retail market

Lies within the boundaries of a nation

Verified Answer

S.No.

Markets

Criteria

1

Physical Market

Requires physical presence of buyers and sellers

2

Online Market

Buyers and sellers meet virtually and can transact at any time

3

Domestic Market

Lies within the boundaries of a nation

4

International Market

Goods and services flow outside the nation’s boundaries

5

Wholesale Market

Deals in bulk quantities

6

Retail Market

Serves the final consumers with goods and services