NCERT Class 7 Social Science Chapter 12 Solutions PDF 2026-27

Concept used. A market is a place or system where buyers and sellers exchange goods or services at an agreed price.

1. A market needs buyers who want goods or services.
2. It needs sellers who offer goods or services for sale.
3. There must be goods or services that can be exchanged.
4. Buyer and seller must agree on a price before the transaction happens.
5. Markets may be physical, such as a weekly market, or online, such as a shopping app.
6. In a recent vegetable market visit, I observed buyers, sellers, vegetables, bargaining, weighing, payment, and delivery.

Final Answer: The main features are buyers, sellers, goods or services, price, negotiation, and exchange. I observed all these in a local vegetable market.

Concept used. The epigraph says prosperity grows when markets develop because people need goods and services they cannot make themselves.

1. No person or family can produce every good and service they need.
2. Markets connect people who produce goods with people who need them.
3. The Hampi Bazaar example shows how a market can become a centre of trade and prosperity.
4. Wholesale and retail chains help goods move from producers to final consumers.
5. Markets also support employment, income, and exchange of ideas and traditions.

Final Answer: The epigraph is relevant because the chapter shows that markets connect people, support trade, spread goods, and help prosperity grow.

Concept used. Demand means the quantity buyers want at a price. Supply means the quantity sellers offer at a price.

1. If the seller earns a good profit, he will demand more guavas from farmers.
2. Farmers will notice that guavas are selling well in the market.
3. They may try to grow or supply more guavas in the next season.
4. They may also plan better storage, transport, or sale timing.
5. If many farmers supply more guavas, the price may later adjust because supply increases.

Final Answer: The farmer is likely to increase guava production or supply in the next season after seeing strong demand and good prices.

Concept used. Different markets are classified by place, scale, boundary, and buyer type.

1. Physical market matches: Requires physical presence of buyers and seller.
2. Online market matches: Buyers and sellers meet virtually and can transact at any time.
3. Domestic market matches: Lies within the boundaries of a nation.
4. International market matches: Goods and services flow outside the nation's boundaries.
5. Wholesale market matches: Deals in bulk quantities.
6. Retail market matches: Serves final consumers with goods and services.

Final Answer: 1 Physical market: physical presence. 2 Online market: virtual transaction. 3 Domestic market: within nation. 4 International market: across boundaries. 5 Wholesale market: bulk quantities. 6 Retail market: final consumers.

Concept used. A price may remain high when supply is limited, production is costly, or the product has special quality or status.

1. Some products have few buyers but still sell at high prices.
2. Examples include diamonds, rare paintings, luxury cars, special medicines, and designer clothes.
3. Their prices can be high because supply is limited.
4. The cost of skill, raw material, technology, research, or brand value may also be high.
5. Some buyers are willing to pay more for rarity, quality, status, or special need.

Final Answer: Prices may be high despite fewer buyers because of scarcity, high production cost, special skill, brand value, quality, or urgent need.

Concept used. Buying decisions are shaped by price, but also by quality, convenience, trust, packaging, hygiene, and shopping experience.

1. The family may feel the super bazaar beans look cleaner and better packed.
2. They may trust the shop more because prices, weight, and billing appear fixed.
3. The family may prefer convenience, air conditioning, parking, or one-stop shopping.
4. They may think packaging protects the vegetables and saves time.
5. This shows that factors other than price can affect buying and selling.

Final Answer: The family may pay more because of packaging, cleanliness, trust, convenience, fixed weight, billing, and shopping experience. Yes, non-price factors affect markets.

Concept used. Perishable goods can lose value quickly when supply is high and demand, storage, or transport is weak.

1. Tomatoes spoil quickly, so farmers cannot store them for long without proper facilities.
2. If many farmers harvest at the same time, supply becomes very high.
3. When supply is much higher than demand, prices can fall sharply.
4. Farmers may throw tomatoes away if transport and sale cost more than the market price.
5. Wholesalers can buy in bulk, arrange transport, connect distant markets, and use cold storage.
6. Wastage can be reduced through cold storage, processing into puree or ketchup, better transport, cooperative sale, and timely market information.

Final Answer: Farmers may throw tomatoes away because prices crash and tomatoes spoil quickly. Wholesalers, cold storage, processing, transport, and cooperatives can reduce waste and loss.

Concept used. A school fair is a small market because students sell goods or services to visitors at agreed prices.

1. Students may organize food stalls, game stalls, craft stalls, book stalls, or handmade product stalls.
2. They decide the price of each item before the fair or during sale.
3. They attract buyers by explaining the product, displaying it well, or offering samples.
4. Negotiation may happen when buyers ask for a discount or buy more than one item.
5. Students calculate cost, collect money, return change, and record sales.

Final Answer: A school fair works like a market: students set up stalls, display goods, quote prices, bargain politely, sell items, and handle payment.

Concept used. Certification signs help consumers check whether a product meets minimum quality or safety standards.

1. Gram flour packet: FSSAI mark and licence number were present.
2. Honey bottle: FSSAI mark was present and AGMARK may be checked where applicable.
3. Pressure cooker: ISI mark was present.
4. LED bulb: BEE Star rating was present.
5. Loose vegetables from a local cart: no certification logo was present.
6. Some products may not have a logo because they are loose, unpackaged, local, unbranded, or not covered by that certification category.

Final Answer: Sample check: gram flour and honey showed FSSAI, pressure cooker showed ISI, LED bulb showed BEE Star rating, and loose vegetables had no logo because they were unpackaged.

Concept used. A product label gives information that helps consumers check quality, safety, price, quantity, and use.

1. Write the brand name and product name clearly.
2. Mention net quantity or weight of the soap bar.
3. Add ingredients, fragrance, and skin-use information.
4. Mention date of manufacture, best before date, batch number, and MRP.
5. Add name and address of the manufacturer or school group.
6. Mention usage instructions, storage advice, allergy warning, and customer contact.
7. If tested or certified, show the relevant certification details.

Final Answer: The soap label should mention brand name, ingredients, net weight, MRP, batch number, manufacturing date, best before date, manufacturer details, directions, warnings, and certification if any.