Read the following sentences about markets and identify the correct one.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Periodic markets in rural areas are found where there are no regular markets.
Option (1) Periodic markets in rural areas are found where there are no regular markets. — Correct. Where a village has no regular market, markets are held weekly or biweekly on fixed dates, and people meet their needs there.
Option (2) The rural marketing centres have well developed professional services. — Incorrect. Rural marketing centres are trading centres of the most rudimentary type. Personal and professional services there are not well-developed.
Option (3) Urban market centres offer only handicraft and home made products. — Incorrect. Urban market centres offer ordinary as well as specialised goods and services, including manufactured goods.
Option (4) Retail-trade provides only bulk goods to the buyers and is not devoted to selling to individual customer. — Incorrect. Retail trading sells goods directly to the consumers. Bulk business through intermediary merchants is wholesale trading.
NCERT (2026-27): “Rural marketing centres cater to nearby settlements. These are quasi-urban centres. They serve as trading centres of the most rudimentary type. Here personal and professional services are not well-developed.” “Periodic markets in rural areas are found where there are no regular markets and local periodic markets are organised at different temporal intervals.” “Urban marketing centres have more widely specialised urban services. They provide ordinary goods and services as well as many of the specialised goods and services required by people.” “Retail Trading This is the business activity concerned with the sale of goods directly to the consumers.” |