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Question (1)

QN0024502

Which of the following best explains the role of markets in people's lives?

(A) Markets are only places for entertainment.
(B) Markets help people buy and sell goods and services.
(C) Markets are used only for manufacturing goods.
(D) Markets are meant only for exporters.

Correct Answer: B

Explanation:

Markets connect buyers and sellers.

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Question (2)

QN0024503

Which of the following is a basic need commonly fulfilled through markets?

(A) Buying food grains
(B) Watching stars
(C) Climbing mountains
(D) Reading road signs

Correct Answer: A

Explanation:

Markets provide essential goods such as food.

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Question (3)

QN0024504

Markets help consumers mainly by

(A) preventing the sale of goods.
(B) providing access to a variety of goods and services.
(C) reducing production completely.
(D) employing only factory workers.

Correct Answer: B

Explanation:

Markets make different goods and services available.

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Question (4)

QN0024505

A farmer grows vegetables and sells them in a nearby market. Which role is the farmer performing?

(A) Consumer
(B) Producer
(C) Retailer
(D) Transporter

Correct Answer: B

Explanation:

A producer grows or makes goods.

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Question (5)

QN0024506

A family purchases groceries every month from a neighbourhood shop. The family is acting as

(A) wholesalers.
(B) consumers.
(C) producers.
(D) distributors.

Correct Answer: B

Explanation:

Consumers buy goods for use.

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Question (6)

QN0024507

Which person helps move goods from producers to markets?

(A) Transporter
(B) Teacher
(C) Doctor
(D) Judge

Correct Answer: A

Explanation:

Transporters carry goods from one place to another.

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Question (7)

QN0024508

A market has fruit sellers, shopkeepers, transport workers and customers. What does this show?

(A) Markets involve many different people.
(B) Only consumers are important.
(C) Only producers benefit from markets.
(D) Markets do not create employment.

Correct Answer: A

Explanation:

Markets involve several participants performing different roles.

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Question (8)

QN0024509

Which of the following is an example of a service available through a market?

(A) Haircut at a salon
(B) Growing wheat in a field
(C) Mining iron ore
(D) Building a dam

Correct Answer: A

Explanation:

A haircut is a service purchased in the market.

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Question (9)

QN0024510

A shopkeeper sells school bags to students before the new academic session. Which need of people is the market fulfilling?

(A) Educational requirements
(B) Industrial production
(C) Agricultural activity
(D) Mining activity

Correct Answer: A

Explanation:

Markets supply goods needed for education.

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Question (10)

QN0024511

Which of the following best explains why markets are important for producers?

(A) They provide a place to sell goods.
(B) They stop production.
(C) They reduce employment.
(D) They eliminate consumers.

Correct Answer: A

Explanation:

Producers depend on markets to sell their products.

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Question (1)

Which of the following best explains the role of markets in people's lives?

Explanation:

Link:

Question (2)

Which of the following is a basic need commonly fulfilled through markets?

Explanation:

Link:

Question (3)

Markets help consumers mainly by

Explanation:

Link:

Question (4)

A farmer grows vegetables and sells them in a nearby market. Which role is the farmer performing?

Explanation:

Link:

Question (5)

A family purchases groceries every month from a neighbourhood shop. The family is acting as

Explanation:

Link:

Question (6)

Which person helps move goods from producers to markets?

Explanation:

Link:

Question (7)

A market has fruit sellers, shopkeepers, transport workers and customers. What does this show?

Explanation:

Link:

Question (8)

Which of the following is an example of a service available through a market?

Explanation:

Link:

Question (9)

A shopkeeper sells school bags to students before the new academic session. Which need of people is the market fulfilling?

Explanation:

Link:

Question (10)

Which of the following best explains why markets are important for producers?

Explanation:

Link:

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