What is NOT true in respect of the periodic markets in rural areas?

The correct answer is Option 4: None of the above

All options are correct. Hence, there is no incorrect statement among the options.

NCERT: "Periodic markets in rural areas are found where there are no regular markets and local periodic markets are organised at different temporal intervals. These may be weekly, bi weekly markets from where people from the surrounding areas meet their temporally accumulated demand. These markets are held on specified dates and move from one place to another. The shopkeepers thus, remain busy on all the days while a large area is served by them."