7 Civics Chapter 8 Markets Around Us

Chapter Notes and Summary
• Markets are places where people buy goods and services.
• There are different kinds of markets namely; weekly market, shops, shopping complex or mall.
• Weekly markets are held on different places on a fix day of a week. Such markets do not have permanent shops.
• Shops may be permanent or hawker type. They provide different goods and sometimes even on credit.
• Malls sell branded and non branded goods and invest a huge amount of money in their shops.
• Products are sold through chain of markets—The big factories to wholesaler and finally retail outlets.
• In present times, goods are also sold by online marketing and home delivery.
• There are many products that are not visible and are called services like that of a doctor.
• profit earned by different market varies. It depends on type of investment made by seller and buying capacity of customer.

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