Understanding Markets
Every purchase connects a chain from producer to consumer. This chapter of the NCERT Class 7 Social Science textbook explains markets simply: weekly village markets, neighbourhood shops, wholesale mandis and modern malls. It shows how prices form through supply and demand, the roles of traders, middlemen, transport and credit, and how buyers and sellers bargain. Examples of farm produce and handicrafts reveal who earns what along the chain, and why fair weighing, honest pricing and consumer awareness matter for everyone.
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