Understanding Markets Class 7 Assertion and Reason Questions

Understanding Markets Class 7 Assertion and Reason Questions

Understanding Markets Class 7 Assertion and Reason Questions

In the questions given below, there are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the correct option.

(a) Both (A) and (R) are true, and (R) is the correct explanation of (A).

(b) Both (A) and (R) are true, but (R) is not the correct explanation of (A).

(c) (A) is true but (R) is false.

(d) (A) is false but (R) is true.

1. (A): Online markets have become popular in recent years.

(R): They allow consumers to shop from anywhere.

Answer:

(a) Both (A) and (R) are true, and (R) is the correct explanation of (A).

2. (A): Wholesalers buy goods in large quantities.

(R): They sell directly to consumers.

Answer:

(c) (A) is true but (R) is false.

3. (A): The price of goods is determined by demand and supply.

(R): Higher demand leads to lower prices.

Answer:

(c) (A) is true but (R) is false.

4. (A): Markets facilitate economic transactions.

(R): They do not influence social relationships.

Answer:

(c) (A) is true but (R) is false.