Class 7 Social Science Chapter 12: Understanding Markets | What Markets Are, How Prices Are Set, Types of Markets (Weekly, Malls, Online) & Role of Government

Complete Chapter 12 guide: meaning of markets and why people need them, Hampi Bazaar as a historic market example, key features of any market (buyers, sellers, negotiation and price), how demand and supply interact to fix a “just right” price, different kinds of markets around us (weekly haats, local shops, malls, online/e‑commerce), how goods move from producers to consumers, and the role of government rules and consumer awareness in keeping markets fair, with summary, Q&A, extra questions and quiz for CBSE Exam

Updated : 3 days ago

Categories: Class 7 Social Science, NCERT Notes 2025, Economic Life Around Us, Markets and Trade, Prices and Consumers, CBSE Exam Preparation, Q&A and Quizzes
Tags: class 7 social science chapter 12 notes, understanding markets class 7, what is a market definition, buyer and seller negotiation price, demand and supply determine price, weekly market haat bazaar examples, hampi bazaar vijayanagar empire trade, physical markets shops malls, online markets ecommerce apps websites, producers wholesalers retailers consumers chain, why vegetables cheaper at night, discounts at end of season example, government role in markets fair trade rules, consumer awareness quality and rights, economic life around us markets, cbse class 7 economics chapter 12
Post ThumbnailView Complete Article
This article has been published in CBSE Class 7 Annual Assessment. Explore everything related to it here.